(a) This subchapter does not apply to:
(1) a public retirement system as defined by § 802.001;
(2) state funds invested as authorized by § 404.024;
(3) an institution of higher education having total endowments of at least $150 million in book value on September 1, 2017;
(4) funds invested by the Veterans’ Land Board as authorized by Chapter 161, 162, or 164, Natural Resources Code;
(5) registry funds deposited with the county or district clerk under Chapter 117, Local Government Code; or
(6) a deferred compensation plan that qualifies under either Section 401(k) or 457 of the Internal Revenue Code of 1986 (26 U.S.C. § 1 et seq.), as amended.
(b) This subchapter does not apply to an investment donated to an investing entity for a particular purpose or under terms of use specified by the donor.