Tex. Educ. Code § 43.060 · Subchapter B. TEXAS PERMANENT SCHOOL FUND CORPORATION
EXCEPTION TO OPEN MEETING REQUIREMENTS FOR CERTAIN CONSULTATIONS CONCERNING INVESTMENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In this section, "private investment fund," "reinvestment," and "restricted securities" have the meanings assigned by Section 552.143, Government Code.
(b) The board of directors may conduct a closed meeting in accordance with Subchapter E, Chapter 551, Government Code, to deliberate or confer with one or more employees, consultants, or legal counsel of the corporation or with a third party if the only purpose of the meeting is to receive information from or question the employees, consultants, or legal counsel or third party relating to:
(1) investment transactions or potential investment transactions if, before conducting the closed meeting, a majority of the board of directors in an open meeting vote that deliberating or conferring in an open meeting would have a detrimental effect on the corporation's position in negotiations with third parties or put the corporation at a competitive disadvantage in the market;
(2) the purchase, holding, or disposal of restricted securities or a private investment fund's investment in restricted securities if, under Section 552.143, Government Code, the information discussed would be confidential and excepted from the requirements of Section 552.021, Government Code, if the information were included in the records of a governmental body; or
(3) a procurement proposed to be awarded by the board of directors if, before conducting the closed meeting, a majority of the board of directors in an open meeting vote that deliberating or conferring in an open meeting would have a detrimental effect on the corporation's position in negotiations with third parties.
(c) Any vote or final action taken on a procurement described by Subsection (b)(3) must be conducted in an open meeting.
Notes and commentary — not statutory text
History
Added by Acts 2021, 87th Leg., R.S., Ch. 875 (S.B. 1232), Sec. 1.06, eff. September 1, 2021.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/ED/htm/ED.43.htm
- Text hash
- sha256 14b7d50c15036bcc3dc1e504256d83c254851015e6d39314349ab1634a3806a3
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Government Code
- Tex. Gov't Code ch. 551, subch. EPROCEDURES RELATING TO CLOSED MEETINGPrinted as Subchapter E, Chapter 551, Government Code
- Tex. Gov't Code § 552.021AVAILABILITY OF PUBLIC INFORMATION.Printed as Section 552.021, Government Code
- Tex. Gov't Code § 552.143CONFIDENTIALITY OF CERTAIN INVESTMENT INFORMATION.Printed as Section 552.143, Government Code
Cited by 1 provision
Provisions in this library whose text cites Tex. Educ. Code § 43.060. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.