KP-0328
Ken Paxton
Categories
Public Finance , Public Investments , State Boards, Commissions, Departments , Teacher Retirement System of TexasSummary
The Teacher Retirement System’s authority to invest its funds is limited to items qualifying as “securities” under Government Code subsection 825.301(a); thus, to the extent any real estate investments of the System comprise realty itself and do not qualify as a “security” pursuant to subsection 825.301(a), they are unconstitutional.