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AUTHORIZED INVESTMENTS FOR GOVERNMENTAL ENTITIESSec. It is not affected by the death, insanity, or insolvency of an individual member.
The English word company has its origins in the Old French military term compaignie (first recorded in 1150), meaning a "body of soldiers", and originally from the Late Latin word companio "companion, one who eats bread [pane] with you", first attested in the Lex Salica as a calque of the Germanic expression *gahlaibo (literally, "with bread"), related to Old High German galeipo "companion" and Gothic gahlaiba "messmate".
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A renewal or extension of the contract must be made by the governing body of the investing entity by order, ordinance, or resolution.(c) This chapter does not prohibit an investing entity or investment officer from using the entity's employees or the services of a contractor of the entity to aid the investment officer in the execution of the officer's duties under this chapter.
(a) Each governing body of the following entities may purchase, sell, and invest its funds and funds under its control in investments authorized under this subchapter in compliance with investment policies approved by the governing body and according to the standard of care prescribed by Section 2256.006:(1) a local government;(2) a state agency;(3) a nonprofit corporation acting on behalf of a local government or a state agency; or(4) an investment pool acting on behalf of two or more local governments, state agencies, or a combination of those entities.(b) In the exercise of its powers under Subsection (a), the governing body of an investing entity may contract with an investment management firm registered under the Investment Advisers Act of 1940 (15 U.
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