79th Texas Legislature, Regular Session, Senate Bill 121, Chapter 1338 Page: 4 of 5
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S. _No, . 121
1 excepted from the requirements of Section 552.021, except to the
2 extent it is subject to disclosure under Subsection (c).
3 (c) All information regarding a governmental body's direct
4 purchase, holding, or disposal of restricted securities that is not
5 listed in Section 552.0225(b)(2)-(9), (11), or (13)-(16) is
6 confidential and excepted from the requirements of Section 552.021.
7 This subsection does not apply to a governmental body's purchase,
8 holding, or disposal of restricted securities for the purpose of
9 reinvestment nor does it apply to a private investment fund's
10 investment in restricted securities. This subsection applies to
11 information regarding a direct purchase, holding, or disposal of
12 restricted securities by the Texas growth fund, created under
13 Section 70, Article XVI, Texas Constitution, that is not listed in
14 Section 552.0225(b).
15 (d) For the purposes of this chapter:
16 (1) "Private investment fund" means an entity, other
17 than a governmental body, that issues restricted securities to a
18 governmental body to evidence the investment of public funds for
19 the purpose of reinvestment.
20 (2) "Reinvestment" means investment in a person that
21 makes or will make other investments.
22 (3) "Restricted securities" has the meaning assigned
23 by 17 C.F.R. Section 230.144(a)(3).
24 (e) This section shall not be construed as affecting the
25 authority of the comptroller under Section 403.030.
26 (f) This section does not apply to the Texas Mutual
27 Insurance Company or a successor to the company.4
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Texas. Legislature. Senate. 79th Texas Legislature, Regular Session, Senate Bill 121, Chapter 1338, legislative document, June 18, 2005; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth157496/m1/4/?rotate=270: accessed June 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.