reglab/housing_qa huggingface dataset:
TX Govt Code § 825.3012 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle C - Teacher Retirement System of Texas|Chapter 825 - Administration|Subchapter D. Management of Assets|Section 825.3012. Investment in Certain Hedge Funds Limited

Sec. 825.3012.  INVESTMENT IN CERTAIN HEDGE FUNDS LIMITED.  (a)  For the purposes of this section, "hedge fund" means a private investment vehicle that:(1)  is not registered as an investment company;(2)  issues securities only to accredited investors or qualified purchasers under an exemption from registration; and(3)  engages primarily in the strategic trading of securities and other financial instruments.(b)  Notwithstanding any provision of Section 825.301, not more than 10 percent of the value of the total investment portfolio of the retirement system may be invested in hedge funds.(b-1)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 126 (H.B. 1612), Sec. 2, eff. May 23, 2019.(c)  The percentage of the value described by Subsection (b) is determined by reference to the value of the total investment portfolio of the retirement system as of the date the retirement system executes the subscription documents for each hedge fund investment.|Added by Acts 2007, 80th Leg., R.S., Ch. 124 (S.B. 1447), Sec. 3, eff. May 17, 2007.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 492 (H.B. 1061), Sec. 2, eff. June 17, 2011.Acts 2019, 86th Leg., R.S., Ch. 126 (H.B. 1612), Sec. 1, eff. May 23, 2019.Acts 2019, 86th Leg., R.S., Ch. 126 (H.B. 1612), Sec. 2, eff. May 23, 2019.|
TX Govt Code § 825.302 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle C - Teacher Retirement System of Texas|Chapter 825 - Administration|Subchapter D. Management of Assets|Section 825.302. Custody and Investment of Assets Pending Transactions

Sec. 825.302.  CUSTODY AND INVESTMENT OF ASSETS PENDING TRANSACTIONS.  The retirement system may, in the exercise of its constitutional discretion to manage the assets of the retirement system, select one or more commercial banks, depository trust companies, or other entities to serve as custodian or custodians of the system's cash or securities pending completion of an investment transaction and may authorize such custodian to invest the cash so held in such short-term securities as the board of trustees determines.|Added by Acts 1981, 67th Leg., 1st C.S., p. 205, ch. 18, Sec. 31, eff. Nov. 10, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 35.3011 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1989, 71st Leg., ch. 251, Sec. 6, eff. Aug. 28, 1989.|
TX Govt Code § 825.3021 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle C - Teacher Retirement System of Texas|Chapter 825 - Administration|Subchapter D. Management of Assets|Section 825.3021. Appraisal and Sale of Real Property

Sec. 825.3021.  APPRAISAL AND SALE OF REAL PROPERTY.  If the retirement system acquires, through foreclosure or conveyance of deed in lieu of foreclosure, real property assets or stock in an entity the major asset of which is real property, the retirement system shall, not later than the 90th day after the date of acquisition:(1)  have the real property appraised by an appraiser who is not a trustee or employee of the retirement system and who has received MAI or SRA;(2)  acquire a foreclosure endorsement to the mortgagee's title insurance policy;  and(3)  if the real property contains improvements, employ an individual who is not, or a property management company that is not owned by, a trustee or employee of the retirement system and who is, or that employs, a CPM, CAM, or RAM to manage the property.|Added by Acts 1993, 73rd Leg., ch. 812, Sec. 21, eff. Sept. 1, 1993.|
TX Govt Code § 825.303 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle C - Teacher Retirement System of Texas|Chapter 825 - Administration|Subchapter D. Management of Assets|Section 825.303. Securities Custody and Securities Lending

Sec. 825.303.  SECURITIES CUSTODY AND SECURITIES LENDING.  (a)  The retirement system may, in the exercise of its constitutional discretion to manage the assets of the retirement system, select one or more commercial banks, depository trust companies, or other entities to serve as custodian or custodians of the system's securities and to lend the securities under rules adopted by the board of trustees and as required by this section.  The retirement system may select one or more commercial banks, depository trust companies, or other entities to act independently of the custodian and lend the securities under board rules and as required by this section.(b)  To be eligible to lend securities under this section, a bank or brokerage firm must:(1)  be experienced in the operation of a fully secured securities loan program;(2)  maintain adequate capital in the prudent judgment of the retirement system to assure the safety of the securities;(3)  execute an indemnification agreement satisfactory in form and content to the retirement system fully indemnifying the retirement system against loss resulting from borrower default or the failure of the bank or brokerage firm to properly execute the responsibilities of the bank or brokerage firm under the applicable securities lending agreement;  (4)  require any securities broker or dealer to whom it lends securities belonging to the retirement system to deliver to and maintain with the custodian collateral in the form of cash or government securities eligible for book entry in either the Federal Reserve System or the Participants Trust Company, in an amount equal to not less than 100 percent of the market value, from time to time, of the loaned securities;  and(5)  comply with guidelines the board of trustees may adopt concerning the investment of cash collateral, borrower limits, and other items.|Added by Acts 1981, 67th Leg., 1st C.S., p. 205, ch. 18, Sec. 31, eff. Nov. 10, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 35.3012 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1989, 71st Leg., ch. 251, Sec. 7, eff. Aug. 28, 1989;  Acts 1993, 73rd Leg., ch. 812, Sec. 22, eff. Sept. 1, 1993;  Acts 1999, 76th Leg., ch. 1540, Sec. 18, 19, eff. Sept. 1, 1999.|
TX Govt Code § 825.304 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle C - Teacher Retirement System of Texas|Chapter 825 - Administration|Subchapter D. Management of Assets|Section 825.304. Nominee to Hold Securities

Sec. 825.304.  NOMINEE TO HOLD SECURITIES.  (a)  The assets of the retirement system may be held in the name of agents, nominees, depository trust companies, or other entities designated by the board of trustees.(b)  The records and all relevant reports or accounts of the retirement system must show the ownership interest of the retirement system in these assets and the facts regarding the system's holdings.(c)  A trustee or employee of the retirement system shall have no personal economic interest in any entity listed in Subsection (a), but shall undertake such action and duties with respect to these entities as the board of trustees determines to be in the interest of the retirement system.  This subsection does not prohibit:(1)  an interest in the assets as a member of the retirement system;(2)  the right to receive expense reimbursements at the same rate that the board member or employee would have received as a board member or employee;  and(3)  such indemnification as is authorized by the board of trustees.(d)  The records of an agent, nominee, or other entity that are maintained by the retirement system are subject to audit by the state auditor.|Added by Acts 1981, 67th Leg., 1st C.S., p. 205, ch. 18, Sec. 31, eff. Nov. 10, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 35.3013 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1989, 71st Leg., ch. 251, Sec. 8, eff. Aug. 28, 1989.|
TX Govt Code § 825.305 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle C - Teacher Retirement System of Texas|Chapter 825 - Administration|Subchapter D. Management of Assets|Section 825.305. Available Cash

Sec. 825.305.  AVAILABLE CASH.  The board of trustees may keep on deposit with the comptroller available cash not exceeding 10 percent of the total assets of the retirement system, to pay annuity and other disbursements.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 35.302 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 8.53, eff. Sept. 1, 1997.|
TX Govt Code § 825.306 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle C - Teacher Retirement System of Texas|Chapter 825 - Administration|Subchapter D. Management of Assets|Section 825.306. Crediting System Assets

Sec. 825.306.  CREDITING SYSTEM ASSETS.  (a)  The assets of the retirement system shall be maintained and reported in a manner that reflects the source of the assets or the purpose for which the assets are held, using appropriate ledgers and subledgers, in accordance with generally accepted accounting principles prescribed by the Governmental Accounting Standards Board or its successor.  In addition, the maintenance and reporting of the assets must be in compliance with applicable tax law and consistent with any fiduciary duty owed with respect to the trust.  In the alternative, the assets may be credited, according to the purpose for which they are held, to one of the following accounts:(1)  member savings account;(2)  state contribution account;(3)  retired reserve account;(4)  interest account;(5)  expense account; or(6)  deferred retirement option account.(b)  Notwithstanding any other law, a requirement to deposit in or transfer assets from one of the accounts described under Subsection (a) is satisfied by maintaining and reporting the assets in accordance with that subsection.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 35.303 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1995, 74th Leg., ch. 555, Sec. 43, eff. Sept. 1, 1995;  Acts 1997, 75th Leg., ch. 1416, Sec. 26, eff. Sept. 1, 1997.Amended by: Acts 2017, 85th Leg., R.S., Ch. 930 (S.B. 1663), Sec. 12, eff. September 1, 2017.|
TX Govt Code § 825.308 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle C - Teacher Retirement System of Texas|Chapter 825 - Administration|Subchapter D. Management of Assets|Section 825.308. State Contribution Account

Sec. 825.308.  STATE CONTRIBUTION ACCOUNT.  The retirement system shall deposit in the state contribution account:(1)  all state contributions to the retirement system required by Section 825.404;(2)  amounts from the interest account as provided by Section 825.313(b)(2);(3)  retirement annuities waived or forfeited in accordance with Section 824.601 or 824.004;(3-a)  retiree earnings described by Section 824.601(b-3)(2)(B)(i) that have been paid to the system;(4)  fees collected under Section 825.403(h);(5)  fees and interest for reinstatement of service credit or establishment of membership service credit as provided by Section 823.501;(6)  the portion of a deposit required by Section 823.302 to establish military service credit that represents a fee; and(7)  employer contributions required under Section 825.4092.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1981, 67th Leg., 1st C.S., p. 207, ch. 18, Sec. 32, eff. Nov. 10, 1981;  Acts 1985, 69th Leg., ch. 832, Sec. 7, eff. June 15, 1985.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 35.305 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 2001, 77th Leg., ch. 1229, Sec. 16, eff. Sept. 1, 2001.Amended by: Acts 2005, 79th Leg., Ch. 1359 (S.B. 1691), Sec. 27, eff. September 1, 2005.Acts 2021, 87th Leg., R.S., Ch. 141 (H.B. 1585), Sec. 7, eff. May 26, 2021.Acts 2021, 87th Leg., R.S., Ch. 511 (S.B. 288), Sec. 3, eff. September 1, 2021.|
TX Govt Code § 825.309 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle C - Teacher Retirement System of Texas|Chapter 825 - Administration|Subchapter D. Management of Assets|Section 825.309. Retired Reserve Account

Sec. 825.309.  RETIRED RESERVE ACCOUNT.  (a)  The retirement system shall transfer to the retired reserve account:(1)  from the member savings account, an amount equal to the accumulated contributions in a member's individual account when the member retires or when the retirement system approves the payment of any benefit authorized under this subtitle on the member's retirement or death;(2)  from the state contribution account, an amount certified by the actuary or determined under actuarial tables adopted by the board of trustees pursuant to Section 825.105 as necessary to provide for the payment of the benefit as it becomes due;  and(3)  from the interest account, the amount required by Section 825.313(b)(1).(b)  The retirement system shall use money in the retired reserve account to pay all retirement annuities and all death or survivor benefits, including postretirement benefit increases and other adjustments to annuities.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1987, 70th Leg., ch. 61, Sec. 8, eff. Aug. 31, 1987.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 35.306 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1995, 74th Leg., ch. 555, Sec. 44, eff. Sept. 1, 1995;  Acts 1999, 76th Leg., ch. 1118, Sec. 4, eff. Sept. 1, 1999.|
TX Govt Code § 825.311 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle C - Teacher Retirement System of Texas|Chapter 825 - Administration|Subchapter D. Management of Assets|Section 825.311. Interest Account

Sec. 825.311.  INTEREST ACCOUNT.  In the interest account the retirement system shall:(1)  deposit all income, interest, and dividends from deposits and investments of assets of the retirement system;  (2)  accumulate net capital gains and losses resulting from the sale, call, maturity, conversion, or recognition of changes in carrying values of investments of the retirement system;  and(3)  accumulate net income or losses from other investments.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 35.308 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1993, 73rd Leg., ch. 812, Sec. 23, eff. Sept. 1, 1993.|
TX Govt Code § 825.312 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle C - Teacher Retirement System of Texas|Chapter 825 - Administration|Subchapter D. Management of Assets|Section 825.312. Expense Account

Sec. 825.312.  EXPENSE ACCOUNT.  (a)  The retirement system shall deposit in the expense account:(1)  money transferred from the interest account under Section 825.313(d) and(2)  money received from the Texas Public School Employees Group Insurance Program for service performed for the program by the retirement system.(b)  The retirement system shall pay from the account all administrative expenses of the retirement system that are required to perform the fiduciary duties of the board.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Amended by Acts 1981, 67th Leg., 1st C.S., p. 207, ch. 18, Sec. 33, eff. Nov. 10, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 35.309 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1993, 73rd Leg., ch. 785, Sec. 3, eff. Aug. 30, 1993;  Acts 1993, 73rd Leg., ch. 812, Sec. 24, eff. Sept. 1, 1993;  Acts 1995, 74th Leg., ch. 555, Sec. 45, eff. Sept. 1, 1995;  Acts 1999, 76th Leg., ch. 1118, Sec. 5, eff. Sept. 1, 1999.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 1078 (H.B. 3357), Sec. 9, eff. June 14, 2013.|
TX Govt Code § 825.3121 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle C - Teacher Retirement System of Texas|Chapter 825 - Administration|Subchapter D. Management of Assets|Section 825.3121. Deferred Retirement Option Account

Sec. 825.3121.  DEFERRED RETIREMENT OPTION ACCOUNT.  (a)  The retirement system shall deposit in the deferred retirement option account the amounts required to be deposited in the account by Section 824.804(a) and interest as required by Section 824.807.(b)  The retirement system shall pay from the account all benefits accrued during participation in the deferred retirement option plan.|Added by Acts 1997, 75th Leg., ch. 1416, Sec. 27, eff. Sept. 1, 1997.|
TX Govt Code § 825.313 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle C - Teacher Retirement System of Texas|Chapter 825 - Administration|Subchapter D. Management of Assets|Section 825.313. Transfers From Interest Account

Sec. 825.313.  TRANSFERS FROM INTEREST ACCOUNT.  (a)  Annually, the retirement system shall transfer from the interest account to the state contribution account amounts accumulated under Section 825.311(2).(b)  On August 31 of each year, the retirement system shall make the following transfers from the interest account:(1)  to the retired reserve account, an amount equal to 4-3/4 percent of the average balance of the retired reserve account for that fiscal year or, if the transfer is authorized by resolution of the board, an amount computed at a greater rate if the actuary recommends the greater rate to adequately fund the retired reserve account;  and(2)  to the state contribution account, the amount remaining in the interest account after the other transfers required or authorized by this section are made.(c)  On August 31 of each year, the retirement system shall transfer from the interest account to the member savings account an amount computed under Section 825.307(b) unless membership is terminated in that fiscal year.  If membership is terminated during the fiscal year, the retirement system shall transfer from the interest account to the member savings account an amount computed under Section 825.307(c).(d)  The board of trustees, by resolution recorded in its minutes, may transfer from the interest account to the expense account an amount necessary to cover the expenses of the retirement system for the fiscal year that are required to perform the fiduciary duties of the board.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 35.310 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1995, 74th Leg., ch. 555, Sec. 45, eff. Sept. 1, 1995;  Acts 1999, 76th Leg., ch. 1118, Sec. 6, eff. Sept. 1, 1999.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 1078 (H.B. 3357), Sec. 10, eff. June 14, 2013.Acts 2013, 83rd Leg., R.S., Ch. 1078 (H.B. 3357), Sec. 11, eff. June 14, 2013.|
TX Govt Code § 825.314 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle C - Teacher Retirement System of Texas|Chapter 825 - Administration|Subchapter D. Management of Assets|Section 825.314. Use of State Contributions

Sec. 825.314.  USE OF STATE CONTRIBUTIONS.   The retirement system shall use all assets contributed by the state to pay benefits authorized by this subtitle.|Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981.  Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 35.311 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1995, 74th Leg., ch. 555, Sec. 45, eff. Sept. 1, 1995;  Acts 1999, 76th Leg., ch. 1118, Sec. 7, eff. Sept. 1, 1999.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 1078 (H.B. 3357), Sec. 12, eff. June 14, 2013.|
TX Govt Code § 825.315 (2021)
2021 Texas Statutes|Government Code|Title 8 - Public Retirement Systems|Subtitle C - Teacher Retirement System of Texas|Chapter 825 - Administration|Subchapter D. Management of Assets|Section 825.315. Prohibited Use of Assets

Sec. 825.315.  PROHIBITED USE OF ASSETS.  (a)  Assets of the retirement system may not be used to advocate or influence the outcome of an election or the passage or defeat of any legislative measure.  This prohibition may not be construed to prevent any trustee or employee from furnishing information in the hands of the trustee or employee that is not considered confidential under law to a member or committee of the legislature, to any other state officer or employee, or to any private citizen, at the request of the person or entity to whom the information is furnished.  This prohibition does not apply to the incidental use of retirement system facilities by groups of members or retirees or by officers or employees of state agencies.(b)  This section does not prohibit the use of system assets by an employee of the retirement system to comment on federal laws, regulations, or other official actions or proposed actions affecting or potentially affecting the retirement system that are made in accordance with policies adopted by the board.|Added by Acts 1995, 74th Leg., ch. 555, Sec. 46, eff. Sept. 1, 1995.Amended by: Acts 2011, 82nd Leg., R.S., Ch. 455 (S.B. 1667), Sec. 17, eff. September 1, 2011.|