Texas Government Code 815.5092 – Ineligibility for Membership On Advisory Committee On Investments
(a) A person is not eligible for appointment to an advisory committee established by the board of trustees to provide advice to the board on investments and investment-related issues if the person or the person’s spouse:
(1) is employed by or participates in the management of a business entity or other organization receiving funds from the retirement system;
(2) owns or controls, directly or indirectly, more than a 10 percent interest in a business entity or other organization receiving funds from the retirement system; or
(3) is a paid officer, employee, or consultant of a Texas trade association in the field of insurance or investment.
(b) A person is not eligible for appointment to a committee described by Subsection (a) if the person is required to register as a lobbyist under Chapter 305 because of the person’s activities for compensation on behalf of a business or an association related to the investment of the assets of this state or of the retirement system.
Terms Used In Texas Government Code 815.5092
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
(c) In this section, “Texas trade association” has the meaning assigned by § 815.0031.