By: Estes S.B. No. 1019
 
 
 
   
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the investment of funds by the governing boards of
  certain institutions of higher education.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 51.0031, Education Code, is amended by
  adding Subsection (c-1) to read as follows:
         (c-1)  If a governing board does not have under its control
  at least $25 million in book value of endowment funds, the governing
  board may contract to pool its funds described in this section with
  another institution that meets the $25 million in book value of
  endowment funds threshold established under Subsection (c), and
  have its funds invested by that governing board under prudent
  person standards.
         SECTION 2.  This Act takes effect September 1, 2013.