An investment that requires a minimum rating under this subchapter does not qualify as an authorized investment during the period the investment does not have the minimum rating. An entity shall take all prudent measures that are consistent with its investment policy to liquidate an investment that does not have the minimum rating.
Tex. Gov't Code § 2256.021
EFFECT OF LOSS OF REQUIRED RATING
Known as the Public Funds Investment Act
The act spans §§ 2256–2256 (39 sections).
Added by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.