Tex. Educ. Code Section 43.058
Ethics Policy; Conflicts of Interest

(a)

The board of directors shall adopt an ethics policy that provides standards of conduct relating to the management and investment of the permanent school fund in accordance with Section 43.0031 (Permanent School Fund Ethics Policy)(a). The ethics policy must include provisions applicable to:

(1)

members of the board of directors;

(2)

employees of the corporation; and

(3)

any person who provides services to the corporation relating to the management or investment of the permanent school fund.

(b)

A member of the board of directors, an employee of the corporation, and a person who provides services to the corporation relating to the management or investment of the permanent school fund shall disclose in writing to the corporation any business, commercial, or other relationship that could reasonably be expected to diminish the person’s independence of judgment in the performance of the person’s responsibilities relating to the management or investment of the permanent school fund.

(c)

The board of directors shall define in the ethics policy adopted under Subsection (a) the types of relationships that may create a possible conflict of interest.

(d)

A person who makes a written disclosure under Subsection (b) stating a possible conflict of interest may not give advice or make decisions about a matter affected by the possible conflict of interest unless the board of directors expressly waives this prohibition. The board of directors may delegate the authority to waive the prohibition established by this subsection.
Added by Acts 2021, 87th Leg., R.S., Ch. 875 (S.B. 1232), Sec. 1.06, eff. September 1, 2021.

Source: Section 43.058 — Ethics Policy; Conflicts of Interest, https://statutes.­capitol.­texas.­gov/Docs/ED/htm/ED.­43.­htm#43.­058 (accessed Jun. 5, 2024).

43.001
Composition of Permanent School Fund and Available School Fund 43.002
Transfers from Permanent School Fund and General Revenue Fund to Available School Fund 43.003
Investment of Permanent School Fund 43.004
Written Investment Objectives 43.005
External Investment Managers 43.006
Investment Management 43.007
Purchase and Sale or Exchange of Securities 43.009
Prepayment of Certain Bonds Held by the Permanent School Fund 43.010
Default of School District Securities Held by the Permanent School Fund 43.011
Authorized Refunding of Defaulted School Bonds 43.012
Refunding Other Defaulted Obligations 43.013
Jurisdiction 43.014
Duties of Comptroller 43.015
Duties of Comptroller 43.016
Use of Available School Fund 43.017
Use of Commercial Banks as Agents for Collection of Income from Permanent School Fund Investments 43.018
Participation in Fully Secured Securities Loan Programs 43.019
Accounting Treatment of Certain Exchanges 43.020
Treatment of Accrued Income 43.0031
Permanent School Fund Ethics Policy 43.0032
Conflicts of Interest 43.0033
Reports of Expenditures 43.0034
Forms 43.0051
Transfers to Real Estate Special Fund Account of the Permanent School Fund 43.051
Definitions 43.052
Creation of Corporation 43.053
Board of Directors 43.054
Chief Executive Officer 43.055
Employees 43.056
Sovereign Immunity 43.057
Liability Insurance for Board Members and Employees 43.058
Ethics Policy 43.059
Applicability of Certain Laws 43.060
Exception to Open Meeting Requirements for Certain Consultations Concerning Investments 43.061
Record Retention 43.062
Information Technology and Associated Resources 43.063
General Powers and Duties of Corporation 43.064
Contracting for Facilities and Necessary Support 43.065
Written Investment Objectives 43.066
Distributions by Corporation from Permanent School Fund to Available School Fund 43.067
Bond Guarantee Program 43.068
Annual Audit 43.069
Annual Investment Report 43.070
Report on Anticipated Transfer to Available School Fund 43.071
Gifts, Grants, and Donations
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 43.058’s source at texas​.gov