Sec. 43.0032. CONFLICTS OF INTEREST. (a) A member of the State Board of Education, the commissioner, an employee of the agency, or a person who provides services to the board that relate to the management or investment of the permanent school fund who has a business, commercial, or other relationship that could reasonably be expected to diminish the person's independence of judgment in the performance of the person's responsibilities relating to the management or investment of the fund shall disclose the relationship in writing to the board.
(b) The board or the board's designee shall, in the ethics policy adopted under Section 43.0031, define the kinds of relationships that may create a possible conflict of interest.
(c) A person who files a statement under Subsection (a) disclosing a possible conflict of interest may not give advice or make decisions about a matter affected by the possible conflict of interest unless the board, after consultation with the general counsel of the agency, expressly waives this prohibition. The board may delegate the authority to waive the prohibition established by this subsection.
Added by Acts 1999, 76th Leg., ch. 1488, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle I - School Finance and Fiscal Management
Chapter 43 - Permanent School Fund and Available School Fund
Subchapter A. General Provisions
Section 43.001. Composition of Permanent School Fund and Available School Fund
Section 43.003. Investment of Permanent School Fund
Section 43.0031. Permanent School Fund Ethics Policy
Section 43.0032. Conflicts of Interest
Section 43.0033. Reports of Expenditures
Section 43.0034. Forms; Public Information
Section 43.004. Written Investment Objectives; Performance Evaluation
Section 43.005. External Investment Managers
Section 43.0051. Transfers to Real Estate Special Fund Account of the Permanent School Fund
Section 43.0052. Quarterly Reports
Section 43.006. Investment Management
Section 43.007. Purchase and Sale or Exchange of Securities
Section 43.009. Prepayment of Certain Bonds Held by the Permanent School Fund
Section 43.010. Default of School District Securities Held by the Permanent School Fund
Section 43.011. Authorized Refunding of Defaulted School Bonds
Section 43.012. Refunding Other Defaulted Obligations
Section 43.014. Duties of Comptroller
Section 43.015. Duties of Comptroller
Section 43.016. Use of Available School Fund
Section 43.018. Participation in Fully Secured Securities Loan Programs