Public Finance; Public Investments; State Boards, Commissions, Departments; Teacher Retirement System of Texas
KP-0328
Texas Attorney General Opinion
The Teacher Retirement System’s authority to invest its funds is limited to items qualifying as “securities” under Government Code subsection 825.301(a); thus, to the extent any real estate investments of the System comprise realty itself and do not qualify as a “security” pursuant to subsection 825.301(a), they are unconstitutional.
Sourced from Texas Attorney General.
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