Sec. 4.05. INVESTMENT COUNSELOR; QUALIFICATIONS. (a) The board may employ from time to time an investment counselor to advise the board in the investment and reinvestment of the assets of the fund. Only the following are eligible for employment as an investment counselor:
(1) any organization whose regular business functions include rendering investment advisory services to pension and retirement funds and that is registered as an "investment adviser" under the Investment Advisers Act of 1940; and
(2) any bank, as defined in the Investment Advisers Act of 1940, that maintains a trust department and offers investment services to pension and retirement funds.
(b) The investment counselor shall receive such compensation as may be determined by the board and as authorized by Section 4.01 of this article.
Structure Texas Statutes
Article 6243a-1. Pension System for Police Officers and Firefighters in Certain Cities
Section 4.01. Payment of Administrative and Professional Services Fees
Section 4.02. Use of Public Funds
Section 4.025. City or Member Contributions if No Unfunded Actuarial Liabilities
Section 4.03. Member Contributions
Section 4.04. Refund of Group B Member Contributions
Section 4.05. Investment Counselor; Qualifications
Section 4.06. Investment Custody Account or Master Trust Agreements
Section 4.07. Investment of Surplus
Section 4.071. Board Approval of Certain Alternative Investments