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Page 7 of 37 <br />(h) An officer or employee of a commission created under <br />Chapter 391, Local Government Code, is ineligible to be an investment <br />officer for the commission under Subsection (f) if the officer or <br />employee is an investment officer designated under Subsection (f) for <br />another local government. <br />Text of subsec. (h) as amended by Acts 1997, 75th Leg., ch. 1421, <br />Sec. 3 <br />(h) An officer or employee of a commission created under <br />Chapter 391, Local Government Code, is ineligible to be designated as <br />an investment officer under Subsection (f) for any investing entity <br />other than for that commission. <br />(i) An investment officer of an entity who has a personal <br />business relationship with a business organization offering to engage <br />in an investment transaction with the entity shall file a statement <br />disclosing that personal business interest. An investment officer <br />who is related within the second degree by affinity or consanguinity, <br />as determined under Chapter 573, to an individual seeking to sell an <br />investment to the investment officer's entity shall file a statement <br />disclosing that relationship. A statement required under this <br />subsection must be filed with the Texas Ethics Commission and the <br />governing body of the entity. For purposes of this subsection, an <br />investment officer has a personal business relationship with a <br />business organization if: <br />(1) the investment officer owns 10 percent or more of the <br />voting stock or shares of the business organization or owns $5,000 or <br />more of the fair market value of the business organization; <br />(2) funds received by the investment officer from the <br />business organization exceed,10 percent of the investment officer's <br />gross income for the previous year; or <br />(3) the investment officer has acquired from the business <br />organization during the previous year investments with a book value <br />of $2,500 or more for the personal account of the investment officer. <br />(j) The governing body of an investing entity may specify in <br />its investment policy that any investment authorized by this chapter <br />is not suitable. <br />4/18/2018 <br />