Tex. Gov't Code Section 815.3016
Approval of Certain Alternative Investments

(a)

In this section, “alternative investment” has the meaning assigned by Section 815.3015 (Tracking and Reporting of Profit Share).

(b)

The executive director, a private professional investment manager, or any other person delegated authority to invest or reinvest retirement system assets under Section 815.202 (Executive Director)(f) or 815.301 (Investment of Assets) may not invest retirement system assets in a single alternative investment that exceeds 0.6 percent of the total market value of the trust fund established by Section 815.310 (Trust Fund) as reported in the most recent annual financial report required under Section 2101.011 (Financial Information Required of State Agencies) unless the board of trustees votes to approve the investment.

(c)

The board of trustees may hold a closed meeting by telephone conference call or video conference call to consider and discuss an alternative investment or a potential alternative investment under this section, regardless of whether a quorum is physically present at one location of the meeting.

(d)

Chapter 551 (Open Meetings) does not require the board of trustees to confer with one or more employees, consultants, or legal counsel of the retirement system or with a third party in an open meeting if the only purpose of the conference is to receive information from or question the employees, consultants, or legal counsel of the retirement system or the third party relating to an alternative investment or a potential alternative investment under this section.

(e)

During a closed meeting held under this section, members of the board of trustees may not deliberate public business or agency policy that affects public business.

(f)

A final action, decision, or vote on a matter considered or discussed in a closed meeting held under this section may only be made in an open meeting that is held in compliance with the notice provisions of Chapter 551 (Open Meetings).

(g)

The board of trustees may adopt rules necessary to implement this section.
Added by Acts 2017, 85th Leg., R.S., Ch. 530 (S.B. 301), Sec. 8, eff. September 1, 2017.

Source: Section 815.3016 — Approval of Certain Alternative Investments, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­815.­htm#815.­3016 (accessed Jun. 5, 2024).

815.001
Composition of Board of Trustees 815.002
Appointed Trustees 815.003
Elected Trustees 815.004
Oath of Office 815.005
Sunset Provision 815.006
Compensation 815.007
Voting 815.008
Grounds for Removal of Trustee 815.009
Board Member Training 815.0031
Ineligibility for Board and of Certain Employees 815.101
General Administration 815.102
Rulemaking 815.103
Administering System Assets 815.104
Designation of Authority to Sign Vouchers 815.105
Adopting Tables 815.106
Information to Legislature 815.107
Records of Board of Trustees 815.109
Correction of Errors 815.110
Audits 815.111
Miscellaneous Board Duties 815.201
Presiding Officer 815.202
Executive Director 815.203
Legal Adviser 815.204
Medical Board 815.205
Other Physicians 815.206
Actuary 815.207
Comptroller 815.208
Compensation of Employees 815.210
Interest in Investment Profits Prohibited 815.212
Employment Practices 815.213
Ethics and Disclosure Requirements 815.214
Subpoena 815.301
Investment of Assets 815.302
Custody and Investment of Assets Pending Transactions 815.303
Securities Lending 815.304
Nominee to Hold Securities 815.307
Duty of Care 815.308
Cash on Hand 815.309
Crediting System Assets 815.310
Trust Fund 815.311
Employees Saving Account 815.312
State Accumulation Account 815.313
Retirement Annuity Reserve Account 815.314
Interest Account 815.315
Expense Account 815.317
Law Enforcement and Custodial Officer Supplemental Retirement Fund 815.318
Transfer of Assets from Interest Account 815.319
Transfer of Assets on Retirement and Restoration to Active Service 815.321
Transfer of Assets for Death Benefit Annuities 815.322
Transfer of Assets to Adjust Amount in Retirement Annuity Reserve Account 815.401
Collection of Membership Fees 815.402
Collection of Certain Member Contributions 815.403
Collection of State Contributions 815.404
Use of Federal Money 815.406
Employer Pickup of Member Contributions 815.407
Legacy Payments 815.501
Statement of Amount in Individual Accounts 815.503
Records 815.504
Reproduction and Preservation of Records 815.505
Certification of Names of Law Enforcement and Custodial Officers 815.506
Budget and Actuarial Information 815.507
Plan Qualification 815.508
Complaint Files 815.509
Advisory Committees 815.510
Annual Report 815.511
Administrative Decision 815.512
Protection from Double or Multiple Liability 815.513
Exclusive Remedies 815.514
Mailings on Behalf of Nonprofit Association 815.515
Disposition of Unclaimed Contributions of Former Members 815.1025
Use of Alternative Rulemaking and Dispute Resolution 815.3015
Tracking and Reporting of Profit Share 815.3016
Approval of Certain Alternative Investments 815.4035
Collection of State Retirement Contribution 815.5021
Payment to Alternate Beneficiary 815.5071
Trustee-to-trustee Transfer 815.5072
Excess Benefit Arrangement 815.5091
Membership on Advisory Committee on Investments 815.5092
Ineligibility for Membership on Advisory Committee on Investments 815.5093
Review of and Removal from Advisory Committee on Investments 815.5111
Diligent Prosecution of Suit
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 815.3016’s source at texas​.gov