(a) A person is not eligible for appointment to an advisory committee established by the board of trustees to provide advice to the board on investments and investment-related issues if the person or the person's spouse:
- (1) is employed by or participates in the management of a business entity or other organization receiving funds from the retirement system;
- (2) owns or controls, directly or indirectly, more than a 10 percent interest in a business entity or other organization receiving funds from the retirement system; or
- (3) is a paid officer, employee, or consultant of a Texas trade association in the field of insurance or investment.
- (b) A person is not eligible for appointment to a committee described by Subsection (a) if the person is required to register as a lobbyist under Chapter 305 because of the person's activities for compensation on behalf of a business or an association related to the investment of the assets of this state or of the retirement system.
- (c) In this section, "Texas trade association" has the meaning assigned by Section 815.0031.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1001 (H.B. 2193), Sec. 1, eff. September 1, 2011.