Tex. Gov't Code Section 404.108
Trust Company Investment Advisory Board


(a)

The comptroller may appoint an investment advisory board to advise the comptroller with respect to managing the assets held by the trust company. The advisory board shall provide the comptroller guidance on the investment philosophy that should be pursued in managing the assets under the trust company’s control. The advisory board serves in an advisory capacity only and is not a fiduciary with respect to the assets held by the trust company.

(b)

The advisory board is composed of seven members appointed by the comptroller with the advice of the governor, lieutenant governor, and speaker of the house of representatives.

(c)

The members of the advisory board must have knowledge of or experience in finance, including the management of funds or business operations.

(d)

Appointments to the advisory board shall be made without regard to the race, color, disability, sex, religion, age, or national origin of appointees.

(e)

Each member of the advisory board must be a resident of this state.

(f)

The creation, size, composition, and duration of the advisory board is governed exclusively by this subchapter. Chapter 2110 (State Agency Advisory Committees) does not apply to the size, composition, or duration of the advisory board.
Added by Acts 2001, 77th Leg., ch. 1158, Sec. 27, eff. June 15, 2001.

Source: Section 404.108 — Trust Company Investment Advisory Board, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­404.­htm#404.­108 (accessed Mar. 23, 2024).

404.001
Definitions
404.0011
Transfer of Treasurer’s Powers and Duties
404.013
Rules
404.021
Eligible Institutions
404.022
Applications
404.023
Designation
404.024
Authorized Investments
404.026
Eleemosynary Funds
404.027
Liquidity
404.028
Investment Advisory Board
404.031
Collateral Requirements
404.032
Deposits
404.033
Withdrawals and Remittances
404.041
Trustee
404.043
Security Officers
404.045
Receipt of Money
404.046
Payment from Treasury
404.047
Accounts
404.048
Report
404.049
Money in Treasury
404.050
Delivery to Successor
404.051
Money Returned to County or Municipality
404.052
Obligations of Municipalities, Districts, and Political Subdivisions
404.054
Daily Totals
404.055
Time and Demand Deposits
404.056
Information Concerning Warrants
404.057
Warrants Payable Accounts
404.058
Outstanding Warrants
404.059
General Ledger Accounts
404.060
Priority of Warrants
404.062
Undetermined Remittances
404.063
Violation
404.064
Office Fees
404.065
Cash Balancing
404.066
Ledger
404.067
Safekeeping
404.068
State Regulatory Agencies Safekeeping and Pledged Collateral
404.069
Trust Funds
404.070
Validity of Voided Warrants
404.071
Disposition of Interest on Investments
404.072
Examination by State Auditor
404.073
Funds Outside Treasury
404.091
Short Title
404.092
Definition
404.093
Applicability of Subchapter
404.094
Funds to Be Deposited in Treasury
404.095
Electronic Transfer of Certain Payments
404.096
Rapid Deposits, Transactions, and Transfers Required
404.097
Deposit of Funds Recovered by Litigation or Settlement
404.101
Definitions
404.102
Creation of Trust Company
404.103
Powers
404.104
Duties of Comptroller
404.105
Capital or Reserve
404.106
Earnings
404.107
Fees
404.108
Trust Company Investment Advisory Board
404.109
Restrictions on Advisory Board Appointment, Membership, and Employment
404.110
Removal of Advisory Board Members
404.111
Advisory Board Member Training
404.112
Compensation
404.113
Meetings
404.114
Investment Management
404.115
Personnel
404.116
Liability Insurance for Certain Board Members, Officials, and Staff
404.121
Definitions
404.122
Cash Management Committee
404.123
Notes Authorized
404.124
Shortfall Forecast
404.125
Issuance of Notes
404.126
Fund Transfers
404.0211
Conflict of Interest
404.0212
Depository Rating Under Certain Federal Law
404.0221
Eligible Collateral
404.0241
Investment of Certain Economic Stabilization Fund Balances
404.0245
Crude Oil and Natural Gas Futures Contracts

Accessed:
Mar. 23, 2024

§ 404.108’s source at texas​.gov