Texas § GV.825.002 - TRUSTEES APPOINTED BY GOVERNOR

§ GV.825.002. TRUSTEES APPOINTED BY GOVERNOR

TRUSTEES APPOINTED BY GOVERNOR. (a) The governor shall appoint, with the advice and consent of the senate and as provided by this section, seven members of the board of trustees. (b) The governor shall appoint three members of the board to hold office for staggered terms, with the term of one trustee expiring on August 31 of each odd-numbered year. These members must be persons who have demonstrated financial expertise, who have worked in private business or industry, and who have broad investment experience, preferably in investment of pension funds. None of the members appointed under this subsection may be a member or annuitant of the retirement system. (c) The governor shall appoint two members of the board from a slate of three members of the retirement system who are currently employed by a public school district, charter school, or regional education service center and who have been nominated in accordance with Subsection (f) by the members of the retirement system whose most recent credited service was performed for a public school district, charter school, or regional education service center. The two members hold office for staggered terms. (d) The governor shall appoint one member of the board from a slate of three former members of the retirement system who have retired and are receiving benefits from the retirement system and who have been nominated in accordance with Subsections (f) and (g) by the persons who have retired and are receiving benefits from the retirement system. (e) The governor shall appoint one member of the board from a slate of three persons who have been nominated in accordance with Subsection (f) by the following groups collectively: (1) members of the retirement system whose most recent credited service was performed for an institution of higher education; (2) members of the retirement system whose most recent credited service was performed for a public school district, charter school, or regional education service center; and (3) persons who have retired and are receiving benefits from the retirement system. (e-1) A person may be nominated for appointment to the board under Subsection (e) if the person is: (1) a member of the retirement system who is currently employed by an institution of higher education; (2) a member of the retirement system who is currently employed by a public school district, charter school, or regional education service center; or (3) a former member of the retirement system who has retired and is receiving benefits from the system. (f) Persons considered for nomination under Subsection (c), (d), or (e) must have been nominated at an election conducted under rules adopted by the board of trustees. (g) To provide for the nomination of persons for appointment under Subsection (d), the board shall send to each retiree of the retirement system: (1) notice of the deadline for filing as a candidate for nomination; (2) information on procedures to follow in filing as a candidate; and (3) instructions on how to request a paper ballot or vote in another manner established by the board, including by telephone or other electronic means. (h) If only two persons are nominated under Subsection (c), (d), or (e), the governor shall appoint a member of the board to the applicable trustee position from the slate of two nominated persons. If only one person is nominated under Subsection (c), (d), or (e), the governor shall appoint that person to the applicable trustee position. If no member or retiree is nominated for a position under Subsection (c), (d), or (e), the governor shall appoint to the applicable trustee position a person who otherwise meets the qualifications required for the position. Acts 1981, 67th Leg., p. 1876, ch. 453, Sec. 1, eff. Sept. 1, 1981. Amended by Acts 1983, 68th Leg., p. 5101, ch. 927, Sec. 1, eff. Sept. 1, 1983. Renumbered from Vernon's Ann.Civ.St. Title 110B, Sec. 35.002 and amended by Acts 1989, 71st Leg., ch. 179, Sec. 1, eff. Sept. 1, 1989. Amended by Acts 1995, 74th Leg., ch. 555, Sec. 30, eff. Sept. 1, 1995. Amended by: Acts 2011, 82nd Leg., R.S., Ch. 455 (S.B. 1667 ), Sec. 14, eff. September 1, 2011. Acts 2011, 82nd Leg., R.S., Ch. 786 (H.B. 2120 ), Sec. 1, eff. September 1, 2011. Acts 2013, 83rd Leg., R.S., Ch. 1078 (H.B. 3357 ), Sec. 5, eff. June 14, 2013.