Texas § GV.802.204 - INVESTMENT MANAGER
Full text of Texas The Texas Constitution § GV.802.204 — INVESTMENT MANAGER, with citation guidance and answers to common questions.
§ GV.802.204. INVESTMENT MANAGER
INVESTMENT MANAGER. (a) The governing body of a public retirement system may appoint investment managers for the system by contracting for professional investment management services with one or more organizations, which may include a bank if it has a trust department, that are in the business of managing investments. (b) To be eligible for appointment under this section, an investment manager must be: (1) registered under the Investment Advisors Act of 1940 (15 U.S.C. Section 80b-1 et seq.); (2) a bank as defined by that Act; or (3) an insurance company qualified to perform investment services under the laws of more than one state. (c) In a contract made under this section, the governing body shall specify any policies, requirements, or restrictions, including criteria for determining the quality of investments and for the use of standard rating services, that the governing body adopts for investments of the system. (d) A political subdivision of which members of the public retirement system are officers or employees may pay all or part of the cost of professional investment management services under a contract under this section. Any cost not paid directly by a political subdivision is payable from funds of the public retirement system. Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981. Amended by Acts 1981, 67th Leg., 1st C.S., p. 199, ch. 18, Sec. 10, eff. Nov. 10, 1981. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 12.204 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § GV.802.204
What does The Texas Constitution § GV.802.204 cover?
Section GV.802.204 ("INVESTMENT MANAGER") 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.802.204?
A common citation format is "The Texas Constitution § GV.802.204" (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.802.204 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.