Texas Special District Local Laws Code 8834.158 – Investment Officer
Current as of: 2024 | Check for updates
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(a) Notwithstanding § 2256.005(f), Government Code, the board may contract with a person to act as investment officer of the district.
(b) The investment officer shall:
(1) not later than the first anniversary of the date the officer takes office or assumes the officer’s duties, attend a training session of at least six hours of instruction relating to investment responsibilities under Chapter 2256, Government Code; and
(2) attend at least four hours of additional investment training within each two-year period after the first year.
Terms Used In Texas Special District Local Laws Code 8834.158
- Contract: A legal written agreement that becomes binding when signed.
- 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
- Year: means 12 consecutive months. See Texas Government Code 311.005
(c) Training under this section must be from an independent source approved by:
(1) the board; or
(2) a designated investment committee advising the investment officer.
(d) Training under this section must include education in investment controls, security risks, strategy risks, market risks, diversification of investment portfolio, and compliance with Chapter 2256, Government Code.