Texas § ED.43.007 - PURCHASE AND SALE OR EXCHANGE OF SECURITIES
Full text of Texas The Texas Constitution § ED.43.007 — PURCHASE AND SALE OR EXCHANGE OF SECURITIES, with citation guidance and answers to common questions.
§ ED.43.007. PURCHASE AND SALE OR EXCHANGE OF SECURITIES
PURCHASE AND SALE OR EXCHANGE OF SECURITIES. (a) The State Board of Education may authorize the purchase of all of the types of securities in which it is authorized by law to invest the permanent school fund in either registered or negotiable form. The board may authorize the reissue of those securities held at any time for the account of the permanent school fund in either registered or negotiable form. The State Board of Education may authorize the sale of any of the securities held for the account of the permanent school fund and reinvest the proceeds of sale for the fund and may authorize the exchange of any of the securities held for the account of the permanent school fund. (b) In making purchases, sales, exchanges, and reissues, the State Board of Education shall exercise the judgment and care under the circumstances then prevailing that persons of ordinary prudence, discretion, and intelligence exercise in the management of their own affairs not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital. (c) When any securities are sold, reissued, or exchanged as provided by Subsection (a), the custodian of the securities shall deliver the securities sold, reissued, or exchanged in accordance with the directions of the State Board of Education. Added by Acts 1995, 74th Leg., ch. 260, Sec. 1, eff. May 30, 1995.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § ED.43.007
What does The Texas Constitution § ED.43.007 cover?
Section ED.43.007 ("PURCHASE AND SALE OR EXCHANGE OF 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 § ED.43.007?
A common citation format is "The Texas Constitution § ED.43.007" (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 § ED.43.007 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.