Tex. Water Code § 15.503 · Subchapter H-1. TEXAS WATER FUND
MANAGEMENT AND INVESTMENT OF FUND.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Money in the fund shall be held and invested by the Texas Treasury Safekeeping Trust Company, taking into account the purposes for which money in the fund may be used.
(b) The fund and any accounts established in the fund shall be kept and maintained by or at the direction of the board.
(c) In managing the assets of the fund, the trust company may acquire, exchange, sell, supervise, manage, or retain any kind of investment that a prudent investor, exercising reasonable care, skill, and caution, would acquire or retain in light of the purposes, terms, distribution requirements, and other circumstances of the fund then prevailing, taking into consideration the investment of all the assets of the fund rather than a single investment. The reasonable expenses of managing the fund's assets shall be paid from the fund.
(d) Section 404.094(d), Government Code, applies to the fund.
Notes and commentary — not statutory text
History
Added by Acts 2023, 88th Leg., R.S., Ch. 457 (S.B. 28), Sec. 6, eff. January 1, 2024.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/WA/htm/WA.15.htm
- Text hash
- sha256 c445b2f9cba8b251a2e89332d123103216dc91126107f73f504d46656a4179e7
- 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.
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.