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<br />reasonable time after the public entity deposits the deposit of public funds with the depository,
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<br />Added by Acts 1993, 73rd Leg, ch. 268, S 1, eff. Sept. 1, 1993. Amended by Acts 1997, 75th Leg.,
<br />ch. 891, S 3.19, eff. Sept. 1,1997,
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<br />~ 2257.064. Reinstatement The comptroller may reinstate a depository's designation as a state
<br />depository if:
<br />(l) 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.
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<br />Added by Acts 1993, 73rd Leg, ch, 268, S 1, eff. Sept 1, 1993. Amended by Acts J 997, 75th Leg.,
<br />ch. 891, 9 3.19, eff. Sept. 1, 1 997.
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<br />SUBCHAPTER E. EXEMPT INSTITUTIONS
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<br />92257.08]. Definition In this subchapter, "exempt institution" means:
<br />(l) a public retirement system, as defined by Section 802.001; or
<br />(2) the permanent school fund, as described by Section 43,00], Education Code.
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<br />Added by Acts 1993. 73rd Leg, ch, 268, ~ 1, eff. Sept. J, 1993. Amended by Acts J997, 75th Leg.,
<br />eh. 165, ~ 6.31, df. Scpt. I, 1997.
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<br />S 2257.082. Funds of Exempt Institution An exempt institution is not required to have its funds Jitlly
<br />insured or coIlaterali2.cd at all times if:
<br />( I ) the funds are held by:
<br />tAl 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 0 fthe mstitution, in exercising its fiduciary responsibility, deternJines 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 lQ protect Itself
<br />from liability.
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<br />Added by Acts 1993, 73rd Leg, ch. 268, * 1, eff. Sept. 1, 1993.
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<br />* 2257,083, Jnvestment; Selection of Depository This chapter does not:
<br />(1) prohibit an exempt in~,titutJOn from prodentlyinvesting 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,
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<br />Added by Acts 1993, 73rd Leg, cb, 268, S L eff. Sept. ],1993.
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<br />City of San Marcos Investment Policy
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<br />Page 39
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