(a) This chapter applies in connection with the management or investment of any state funds managed or invested:
(1) under the Texas Constitution or other law, including Chapters 404 and 2256; and
(2) by or for:
(A) a public retirement system as defined by § 802.001 that provides service retirement, disability retirement, or death benefits for officers or employees of the state;
(B) an institution of higher education as defined by § 61.003, Education Code; or
(C) another entity that is part of state government and that manages or invests state funds or for which state funds are managed or invested.
(b) This chapter applies in connection with the management or investment of state funds without regard to whether the funds are held in the state treasury.

(c) This chapter does not apply to or in connection with a state governmental entity that does not manage or invest state funds and for which state funds are managed or invested only by the comptroller.