Texas § GV.825.304 - NOMINEE TO HOLD SECURITIES
Full text of Texas The Texas Constitution § GV.825.304 — NOMINEE TO HOLD SECURITIES, with citation guidance and answers to common questions.
§ GV.825.304. NOMINEE TO HOLD SECURITIES
NOMINEE TO HOLD SECURITIES. (a) The assets of the retirement system may be held in the name of agents, nominees, depository trust companies, or other entities designated by the board of trustees. (b) The records and all relevant reports or accounts of the retirement system must show the ownership interest of the retirement system in these assets and the facts regarding the system's holdings. (c) A trustee or employee of the retirement system shall have no personal economic interest in any entity listed in Subsection (a), but shall undertake such action and duties with respect to these entities as the board of trustees determines to be in the interest of the retirement system. This subsection does not prohibit: (1) an interest in the assets as a member of the retirement system; (2) the right to receive expense reimbursements at the same rate that the board member or employee would have received as a board member or employee; and (3) such indemnification as is authorized by the board of trustees. (d) The records of an agent, nominee, or other entity that are maintained by the retirement system are subject to audit by the state auditor. Added by Acts 1981, 67th Leg., 1st C.S., p. 205, ch. 18, Sec. 31, eff. Nov. 10, 1981. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 35.3013 by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989. Amended by Acts 1989, 71st Leg., ch. 251, Sec. 8, eff. Aug. 28, 1989.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § GV.825.304
What does The Texas Constitution § GV.825.304 cover?
Section GV.825.304 ("NOMINEE TO HOLD SECURITIES") 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.825.304?
A common citation format is "The Texas Constitution § GV.825.304" (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.825.304 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.