- (a) Notwithstanding Section 2256.005(f), Government Code, the board may contract with a person to act as investment officer of the district.
(b) The investment officer of a district shall:
- (1) not later than the first anniversary of the date the officer takes office or assumes the officer's duties, attend a training session of at least six hours of instruction relating to investment responsibilities under Chapter 2256, Government Code; and
- (2) attend at least four hours of additional investment training within each two-year period after the first year.
(c) Training under this section must be from an independent source approved by:
- (1) the board; or
- (2) a designated investment committee advising the investment officer.
- (d) Training under this section must include education in investment controls, security risks, strategy risks, market risks, diversification of investment portfolio, and compliance with Chapter 2256, Government Code.
- (e) During January of each year, each individual, association, business, organization, governmental entity, or other person that provides training under this section shall report to the comptroller a list of the districts for which the person provided required training under this section during the previous calendar year. An individual's reporting requirements under this subsection are satisfied by a report of the individual's employer or the sponsoring or organizing entity of a training program or seminar.
Added by Acts 2001, 77th Leg., ch. 69, Sec. 3, eff. May 14, 2001.