Texas § WA.15.503 - MANAGEMENT AND INVESTMENT OF FUND
Full text of Texas The Texas Constitution § WA.15.503 — MANAGEMENT AND INVESTMENT OF FUND, with citation guidance and answers to common questions.
§ WA.15.503. MANAGEMENT AND INVESTMENT OF FUND
MANAGEMENT AND INVESTMENT OF FUND. (a) Money in the fund shall be held and invested by the Texas Treasury Safekeeping Trust Company, taking into account the purposes for which money in the fund may be used. (b) The fund and any accounts established in the fund shall be kept and maintained by or at the direction of the board. (c) In managing the assets of the fund, the trust company may acquire, exchange, sell, supervise, manage, or retain any kind of investment that a prudent investor, exercising reasonable care, skill, and caution, would acquire or retain in light of the purposes, terms, distribution requirements, and other circumstances of the fund then prevailing, taking into consideration the investment of all the assets of the fund rather than a single investment. The reasonable expenses of managing the fund's assets shall be paid from the fund. (d) Section 404.094 (d), Government Code, applies to the fund. Added by Acts 2023, 88th Leg., R.S., Ch. 457 (S.B. 28 ), Sec. 6, eff. January 1, 2024.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § WA.15.503
What does The Texas Constitution § WA.15.503 cover?
Section WA.15.503 ("MANAGEMENT AND INVESTMENT OF FUND") 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 § WA.15.503?
A common citation format is "The Texas Constitution § WA.15.503" (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 § WA.15.503 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.