Sec. 2270.0001. DEFINITIONS. In this chapter:
(1) "Active business operations" means all business operations that are not inactive business operations.
(2) "Company" means a sole proprietorship, organization, association, corporation, partnership, joint venture, limited partnership, limited liability partnership, limited liability company, or other entity or business association whose securities are publicly traded, including a wholly owned subsidiary, majority-owned subsidiary, parent company, or affiliate of those entities or business associations, that exists to make a profit.
(3) "Designated foreign terrorist organization" means an organization designated as a foreign terrorist organization by the United States secretary of state as authorized by 8 U.S.C. Section 1189.
(4) "Direct holdings" in a company means all securities of that company held directly by an investing entity in an account or fund in which an investing entity owns all shares or interests.
(5) "Inactive business operations" means the mere continued holding or renewal of rights to property previously operated to generate revenue but not presently deployed to generate revenue.
(6) "Indirect holdings" in a company means all securities of that company held in an account or fund, such as a mutual fund, managed by one or more persons not employed by an investing entity, in which the investing entity owns shares or interests together with other investors not subject to this chapter. The term does not include money invested under a plan described by Section 401(k) or 457 of the Internal Revenue Code of 1986.
(7) "Investing entity" means:
(A) an entity subject to Chapter 2256;
(B) the Employees Retirement System of Texas;
(C) the Teacher Retirement System of Texas; and
(D) the comptroller with respect to the comptroller's investment of state funds.
(8) "Listed company" means a company listed by the comptroller under Section 2270.0201.
(9) "Scrutinized company" means:
(A) a company that:
(i) engages in scrutinized business operations described by Section 2270.0052; or
(ii) has been complicit in the Darfur genocide during any preceding 20-month period;
(B) a company that engages in scrutinized business operations described by Section 2270.0102; and
(C) a company that engages in scrutinized business operations described by Section 2270.0152.
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.
Structure Texas Statutes
Subtitle F - State and Local Contracts and Fund Management
Chapter 2270 - Prohibition on Investing Public Money in Certain Investments
Subchapter A. General Provisions
Section 2270.0001. Definitions
Section 2270.0003. Other Legal Obligations
Section 2270.0005. Conflict With Other Law
Section 2270.0006. Indemnification of Investing Entities, Employees, and Others