Texas § GV.825.3012 - INVESTMENT IN CERTAIN HEDGE FUNDS LIMITED
Full text of Texas The Texas Constitution § GV.825.3012 — INVESTMENT IN CERTAIN HEDGE FUNDS LIMITED, with citation guidance and answers to common questions.
§ GV.825.3012. INVESTMENT IN CERTAIN HEDGE FUNDS LIMITED
INVESTMENT IN CERTAIN HEDGE FUNDS LIMITED. (a) For the purposes of this section, "hedge fund" means a private investment vehicle that: (1) is not registered as an investment company; (2) issues securities only to accredited investors or qualified purchasers under an exemption from registration; and (3) engages primarily in the strategic trading of securities and other financial instruments. (b) Notwithstanding any provision of Section 825.301 , the board of trustees shall determine the maximum percentage of the value of the total investment portfolio of the retirement system that may be invested in hedge funds. (b-1) Repealed by Acts 2019, 86th Leg., R.S., Ch. 126 (H.B. 1612 ), Sec. 2, eff. May 23, 2019. (c) The percentage of the value described by Subsection (b) is determined by reference to the value of the total investment portfolio of the retirement system as of the date the retirement system executes the subscription documents for each hedge fund investment. Added by Acts 2007, 80th Leg., R.S., Ch. 124 (S.B. 1447 ), Sec. 3, eff. May 17, 2007. Amended by: Acts 2011, 82nd Leg., R.S., Ch. 492 (H.B. 1061 ), Sec. 2, eff. June 17, 2011. Acts 2019, 86th Leg., R.S., Ch. 126 (H.B. 1612 ), Sec. 1, eff. May 23, 2019. Acts 2019, 86th Leg., R.S., Ch. 126 (H.B. 1612 ), Sec. 2, eff. May 23, 2019. Acts 2023, 88th Leg., R.S., Ch. 1093 (S.B. 1246 ), Sec. 5, eff. June 18, 2023.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § GV.825.3012
What does The Texas Constitution § GV.825.3012 cover?
Section GV.825.3012 ("INVESTMENT IN CERTAIN HEDGE FUNDS LIMITED") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § GV.825.3012?
A common citation format is "The Texas Constitution § GV.825.3012" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § GV.825.3012 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.