Tex. Gov't Code § 2270.0208 · Subchapter E. DUTIES REGARDING INVESTMENTS
AUTHORIZED INVESTMENT IN LISTED COMPANIES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An investing entity may cease divesting from or may reinvest in one or more listed companies if clear and convincing evidence shows that the value for all assets under management by the entity becomes equal to or less than 99.7 percent of the hypothetical value of all assets under management by the entity had the entity not divested from listed companies under this chapter.
(b) An investing entity may invest in a listed company as provided by this section only to the extent necessary to ensure that the value of the assets managed by the entity does not fall below the value described by Subsection (a).
(c) Before an investing entity may invest in a listed company under this section, the entity must provide a written report to the presiding officer of each house of the legislature and the attorney general setting forth the reason and justification, supported by clear and convincing evidence, for its decisions to cease divestment, to reinvest, or to remain invested in a listed company.
(d) The investing entity shall update the report required by Subsection (c) semiannually, as applicable.
(e) This section does not apply to reinvestment in a company that has ceased to be a listed company.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 1375 (S.B. 247), Sec. 2, eff. January 1, 2008.
Transferred, redesignated and amended from Government Code, Chapter 806 by Acts 2017, 85th Leg., R.S., Ch. 96 (S.B. 253), Sec. 4, eff. May 23, 2017.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2270.htm
- Text hash
- sha256 3197ed1dc66171af06fd3bcefe8f56ca51656e4d548ad9f4ef603b8671cdea59
- 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
Cited by 2 provisions
Provisions in this library whose text cites Tex. Gov't Code § 2270.0208. Each shows the citation as that text prints it.
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