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<br />policy of the entity. <br /> <br />Sec. 2256.007 Investment Training; State Agency Board Members and Officers. <br />(a) Each member of the governing board of a state agency and its investment officer shall <br />attend at least one training session relating to the person's responsibilities under this <br />chapter within six months after taking office or assuming duties. <br /> <br />(b) The Texas Higher Education Coordinating Board shall provide the training under this <br />section. <br /> <br />(c) Training under this section must include education in investment controls, security risks, <br />strategyrisks, market risks, diversification of investment portfolio, and compliance with this <br />chapter. <br /> <br />(d) An investment officer shall attend a training session not less than once in a two-year <br />period and may receive training from any independent source approved by the governing <br />body of the state agency. The investment officer shall prepare a report on this subchapter and <br />deliver the report to the governing body of the state agency not later than the 180th day after <br />the last day of each regular session of the legislature. <br /> <br />Sec. 2256.008 Investment Training; Local Governments. <br />(a) Except as provided by Subsections (b) and (e), the treasurer, the chief financial officer if <br />the treasurer is not the chief financial officer, and the investment officer of a local <br />government shall: <br />(1) attend at least one training session from an independent source approved by the <br />governing body of the local government or a designated investment· committee <br />advising the investment officer as provided for in the investment policy of the local <br />government and containing at least 10 hours of instruction relating to the treasurer's <br />or officer's responsibilities under this subchapterwithin 12 months after taking office <br />or assuming duties;· and <br />(2) except as provided by Subsection (b), attend an investment training session not less <br />than once in a two-year period and receive not less than 10 hours of instruction <br />relating to investment responsibilities under this subchapter from an independent <br />source approved· by the governing. body of the local government or a designated <br />investment committee advising the investment officer as provided for in the <br />investment policy ofthe local government. <br />(b) An investing entity created under authority of Section 52(b), Article III, or Section 59, <br />Article XVI, Texas Constitution, that has contracted with an investment management <br />firm under Section 2256.003(b) and has fewer than five full-time employees or an <br />investing entity that has contracted with another investing entity to invest the entity's <br />funds may satisfy the training requirement provided by Subsection (a)(2) by having an <br />officer of the governing body attend four hours of appropriate instruction in a two-year <br />period. The treasurer or chief financial officer of an investing entity created under <br />authority of Section 52(b), Article III, or Section 59, Article XVI, Texas Constitution, <br /> <br />City of San Marcos Investment Policy <br /> <br />Page 24 <br />