Sec. 4.071. BOARD APPROVAL OF CERTAIN ALTERNATIVE INVESTMENTS. (a) The executive director, an investment manager, a provider of professional investment management services or professional advisory services, or any other person delegated authority to invest or reinvest pension system assets under this article may not invest pension system assets in a single alternative investment unless the board votes to approve the investment by at least a two-thirds vote of all the trustees.
(b) The board may adopt rules necessary to implement this section.
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