Tex. Educ. Code Section 43.063
General Powers and Duties of Corporation

(a)

The corporation may amend the articles of incorporation adopted by the State Board of Education when the corporation was established, subject to board approval.

(b)

The corporation may adopt and amend:

(1)

subject to State Board of Education approval, bylaws for the corporation;

(2)

resolutions and policies of the corporation; and

(3)

any other document necessary to carry out the corporation’s purpose.

(c)

The corporation may engage in any activity necessary to manage the investments of the permanent school fund, including entering into any contract in connection with the investment of the permanent school fund, to the extent the activity complies with applicable fiduciary duties.

(d)

The corporation shall make all purchases of goods and services in accordance with applicable fiduciary duties and may use purchasing methods that ensure the best value to the corporation. In determining best value, the corporation may consider the best value standards applicable to state agencies under Section 2155.074 (Best Value Standard for Purchase of Goods or Services), Government Code.

(e)

The corporation may:

(1)

delegate investment authority for the investment of the permanent school fund to one or more private professional investment managers; or

(2)

contract with one or more private professional investment managers to assist the corporation in making investments of the permanent school fund.

(f)

The corporation may receive, transfer, and disburse money and securities of the fund as provided by statute or the Texas Constitution, except that the corporation may not distribute money from the permanent school fund to the available school fund except as authorized under Section 43.066 (Distributions by Corporation from Permanent School Fund to Available School Fund).

(g)

The corporation may enter into a contract with a state agency, a governmental body, or another entity to manage or invest funds on behalf of the agency, body, or entity.
Added by Acts 2021, 87th Leg., R.S., Ch. 875 (S.B. 1232), Sec. 1.06, eff. September 1, 2021.

Source: Section 43.063 — General Powers and Duties of Corporation, https://statutes.­capitol.­texas.­gov/Docs/ED/htm/ED.­43.­htm#43.­063 (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

§ 43.063’s source at texas​.gov