Enrolled Bill Summary

Senate Bill 616 amends the Education Code to eliminate the requirement that a departing employee of a nonprofit corporation designated to invest money of the permanent university fund of The University of Texas wait two years before working for an entity that conducts business with the corporation. The act adds provisions that prohibit departing directors from communicating with the intent to influence business transactions on behalf of another with the corporation for a two-year period and that prohibit departing employees or officers from representing an individual on a matter in which the officer or employee participated while employed with the corporation. It establishes a Class A misdemeanor for violations.