Sec. 43.052. CREATION OF CORPORATION. (a) The State Board of Education may incorporate the Texas Permanent School Fund Corporation and delegate to the corporation the board's authority to manage and invest:
(1) the permanent school fund under Section 43.003; and
(2) the charter district bond guarantee reserve fund under Section 45.0571.
(b) The State Board of Education shall adopt the initial articles of incorporation for the corporation.
(c) The corporation is a special-purpose governmental corporation and instrumentality of the state with necessary and implied powers to accomplish its purpose. The corporation is subject to regulation and limitation only as provided by this subchapter.
Added by Acts 2021, 87th Leg., R.S., Ch. 875 (S.B. 1232), Sec. 1.06, eff. September 1, 2021.
Structure Texas Statutes
Subtitle I - School Finance and Fiscal Management
Chapter 43 - Permanent School Fund and Available School Fund
Subchapter B. Texas Permanent School Fund Corporation
Section 43.052. Creation of Corporation
Section 43.053. Board of Directors; Meetings
Section 43.054. Chief Executive Officer
Section 43.056. Sovereign Immunity
Section 43.057. Liability Insurance for Board Members and Employees
Section 43.058. Ethics Policy; Conflicts of Interest
Section 43.059. Applicability of Certain Laws
Section 43.061. Record Retention
Section 43.062. Information Technology and Associated Resources
Section 43.063. General Powers and Duties of Corporation
Section 43.064. Contracting for Facilities and Necessary Support
Section 43.065. Written Investment Objectives; Performance Evaluation
Section 43.066. Distributions by Corporation From Permanent School Fund to Available School Fund
Section 43.067. Bond Guarantee Program
Section 43.069. Annual Investment Report
Section 43.070. Report on Anticipated Transfer to Available School Fund