Sec. 865.007. ADMINISTERING SYSTEM ASSETS. (a) The state board shall administer all assets of the pension system. The state board is the trustee of the pension system's assets.
(b) The state board may acquire, hold, manage, purchase, sell, assign, trade, transfer, and dispose of any security, evidence of debt, or other investment in which the pension system's assets may be invested.
(c) The state board or the executive director may accept on behalf of the pension system gifts of money or other property from any public or private source. Money received under this subsection shall be deposited into the fund.
Added by Acts 2005, 79th Leg., Ch. 803 (S.B. 522), Sec. 1, eff. September 1, 2005.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 1316 (S.B. 220), Sec. 1.15, eff. June 14, 2013.
Acts 2019, 86th Leg., R.S., Ch. 1165 (H.B. 3247), Sec. 27, eff. September 1, 2019.
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