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<br />reasonable time after the public entity deposits the deposit of public funds with the depository.
<br />
<br />Added by Acts 1993, 73rd Leg, ch. 268, ~ 1, eff. Sept. 1, 1993. Amended by Acts 1997, 75th Leg.,
<br />ch. 891, ~ 3.19, eff. Sept. 1, 1997.
<br />
<br />~ 2257.064. Reinstatement The comptroller may reinstate a depository's designation as a state
<br />depository if:
<br />(1) the comptroller determines that the depository has remedied all violations of this chapter; and
<br />(2) the depository assures the comptroller to the comptroller's satisfaction that the depository will
<br />maintain reasonable compliance with this chapter.
<br />
<br />Added by Acts 1993, 73rd Leg, ch. 268, ~ 1, eff. Sept. 1, 1993. Amended by Acts 1997, 75th Leg.,
<br />ch. 891, ~ 3.19, eff. Sept. 1, 1997.
<br />
<br />SUBCHAPTER E. EXEMPT INSTITUTIONS
<br />
<br />~ 2257.081. Definition In this subchapter, "exempt institution" means:
<br />(1) a public retirement system, as defined by Section 802.001; or
<br />(2) the permanent school fund, as described by Section 43.001, Education Code.
<br />
<br />Added by Acts 1993, 73rd Leg, ch. 268, ~ 1, eff. Sept. 1, 1993. Amended by Acts 1997, 75th Leg.,
<br />ch. 165, ~ 6.31, eff. Sept. 1, 1997.
<br />
<br />9 2257.082. Funds of Exempt Institution An exempt institution is not required to have its funds fully
<br />insured or collateralized at all times if:
<br />(1) the funds are held by:
<br />(A) a custodian of the institution's assets under a trust agreement; or
<br />(B) a person in connection with a transaction related to an investment; and
<br />(2) the governing body of the institution, in exercising its fiduciary responsibility. determines that the
<br />institution is adequately protected by using a trust agreement, special deposit, surety bond,
<br />substantial deposit insurance, or other method an exempt institution commonly uses to protect itself
<br />from liability.
<br />
<br />Added by Acts 1993, 73rd Leg, ch. 268,9 1, eff. Sept. 1,1993.
<br />
<br />92257.083. Investment; Selection of Depository This chapter does not:
<br />(1) prohibit an exempt institution from prudently investing in a certificate of deposit; or
<br />(2) restrict the selection of a depository by the governing body of an exempt institution in accordance
<br />with its fiduciary duty.
<br />
<br />Added by Acts 1993, 73rd Leg, ch. 268, ~ 1. eff. Sept. 1, 1993.
<br />
<br />City of San Marcos Investment Policy
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