Sec. 2256.021. EFFECT OF LOSS OF REQUIRED RATING. An investment that requires a minimum rating under this subchapter does not qualify as an authorized investment during the period the investment does not have the minimum rating. An entity shall take all prudent measures that are consistent with its investment policy to liquidate an investment that does not have the minimum rating.
Added by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995.
Structure Texas Statutes
Subtitle F - State and Local Contracts and Fund Management
Chapter 2256 - Public Funds Investment
Subchapter A. Authorized Investments for Governmental Entities
Section 2256.003. Authority to Invest Funds; Entities Subject to This Chapter
Section 2256.004. Applicability
Section 2256.005. Investment Policies; Investment Strategies; Investment Officer
Section 2256.006. Standard of Care
Section 2256.007. Investment Training; State Agency Board Members and Officers
Section 2256.008. Investment Training; Local Governments
Section 2256.009. Authorized Investments: Obligations Of, or Guaranteed by Governmental Entities
Section 2256.010. Authorized Investments: Certificates of Deposit and Share Certificates
Section 2256.011. Authorized Investments: Repurchase Agreements
Section 2256.0115. Authorized Investments: Securities Lending Program
Section 2256.012. Authorized Investments: Banker's Acceptances
Section 2256.013. Authorized Investments: Commercial Paper
Section 2256.014. Authorized Investments: Mutual Funds
Section 2256.015. Authorized Investments: Guaranteed Investment Contracts
Section 2256.016. Authorized Investments: Investment Pools
Section 2256.017. Existing Investments
Section 2256.019. Rating of Certain Investment Pools
Section 2256.020. Authorized Investments: Institutions of Higher Education
Section 2256.0201. Authorized Investments; Municipal Utility
Section 2256.0203. Authorized Investments: Ports and Navigation Districts
Section 2256.0204. Authorized Investments: Independent School Districts
Section 2256.0205. Authorized Investments; Decommissioning Trust
Section 2256.0206. Authorized Investments: Hedging Transactions
Section 2256.0208. Local Government Investment of Bond Proceeds and Pledged Revenue
Section 2256.021. Effect of Loss of Required Rating
Section 2256.022. Expansion of Investment Authority
Section 2256.023. Internal Management Reports
Section 2256.024. Subchapter Cumulative