Except for an interest in retirement funds as a member of the retirement system, a trustee or employee of the board of trustees may not have a direct or indirect interest in the gains or profits of any investment made by the board and may not receive any pay or emolument for services other than the person's designated compensation and authorized expenses.
Tex. Gov't Code § 840.209
INTEREST IN INVESTMENT PROFITS PROHIBITED
Added by Acts 1985, 69th Leg., ch. 602, Sec. 1, Sept. 1, 1985
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.