89th Legislature, Regular Session
HB 4807
Relating to the fiduciary responsibility of the governing body of the public retirement systems in this state and the investment managers and proxy advisors acting on behalf of those systems.
Introduced
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- Passed House
- Passed Senate
- To Governor
- Became Law
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By: Paul H.B. No. 4807 A BILL TO BE ENTITLED AN ACT relating to the fiduciary responsibility of the governing body of the public retirement systems in this state and the investment managers and proxy advisors acting on behalf of those systems. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 802.001, Government Code, is amended by adding Subdivisions (1-b), (2-a), and (2-b) to read as follows: (1-b) "Financial factor" means a factor taken into consideration when making investment decisions that a prudent investor would expect to have a material effect on controlling risk and achieving a rate of return for an investment based on