Sec. 43.060. EXCEPTION TO OPEN MEETING REQUIREMENTS FOR CERTAIN CONSULTATIONS CONCERNING INVESTMENTS. (a) In this section, "private investment fund," "reinvestment," and "restricted securities" have the meanings assigned by Section 552.143, Government Code.
(b) The board of directors may conduct a closed meeting in accordance with Subchapter E, Chapter 551, Government Code, to deliberate or confer with one or more employees, consultants, or legal counsel of the corporation or with a third party if the only purpose of the meeting is to receive information from or question the employees, consultants, or legal counsel or third party relating to:
(1) investment transactions or potential investment transactions if, before conducting the closed meeting, a majority of the board of directors in an open meeting vote that deliberating or conferring in an open meeting would have a detrimental effect on the corporation's position in negotiations with third parties or put the corporation at a competitive disadvantage in the market;
(2) the purchase, holding, or disposal of restricted securities or a private investment fund's investment in restricted securities if, under Section 552.143, Government Code, the information discussed would be confidential and excepted from the requirements of Section 552.021, Government Code, if the information were included in the records of a governmental body; or
(3) a procurement proposed to be awarded by the board of directors if, before conducting the closed meeting, a majority of the board of directors in an open meeting vote that deliberating or conferring in an open meeting would have a detrimental effect on the corporation's position in negotiations with third parties.
(c) Any vote or final action taken on a procurement described by Subsection (b)(3) must be conducted in an open meeting.
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