Tex. Educ. Code Section 43.059
Applicability of Certain Laws

(a)

Except as otherwise provided by and to the extent consistent with this subchapter, Title 1, Business Organizations Code, and Chapter 22 (Nonprofit Corporations), Business Organizations Code, apply to the corporation.

(b)

Subject to Section 43.060 (Exception to Open Meeting Requirements for Certain Consultations Concerning Investments), the corporation is a governmental body for purposes of Chapter 551 (Open Meetings), Government Code.

(c)

The corporation is exempt from:

(1)

Chapters 654 (Position Classification) and 660 (Travel Expenses), Government Code, and Subchapter K (Applicability), Chapter 659 (Compensation), Government Code, to the extent the board of directors determines that an exemption from those provisions is necessary for the corporation to perform the board’s fiduciary duties under this subchapter;

(2)

all state laws regulating or limiting purchasing by state agencies, including Subtitle D, Title 10, Government Code, and Chapters 2254 (Professional and Consulting Services), 2261 (State Contracting Standards and Oversight), and 2262 (Statewide Contract Management), Government Code;

(3)

the franchise tax under Chapter 171 (Franchise Tax), Tax Code; and

(4)

any filing costs or other fees imposed by the state on a corporation.
Added by Acts 2021, 87th Leg., R.S., Ch. 875 (S.B. 1232), Sec. 1.06, eff. September 1, 2021.

Source: Section 43.059 — Applicability of Certain Laws, https://statutes.­capitol.­texas.­gov/Docs/ED/htm/ED.­43.­htm#43.­059 (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

§ 43.059’s source at texas​.gov