Title GV, Government Code

Sec. 808.002. OTHER LEGAL OBLIGATIONS. With respect to actions taken in compliance with this chapter, including all good faith determinations regarding companies as required by this chapter, a state governmental entity and the comptroller are exempt from any conflicting statutory…

Sec. 808.003. INDEMNIFICATION OF STATE GOVERNMENTAL ENTITIES, EMPLOYEES, AND OTHERS. In a cause of action based on an action, inaction, decision, divestment, investment, company communication, report, or other determination made or taken in connection with this chapter, the state…

Sec. 808.004. NO PRIVATE CAUSE OF ACTION. (a) A person, including a member, retiree, or beneficiary of a retirement system to which this chapter applies, an association, a research firm, a company, or any other person may not sue or pursue a private cause of action against the st…

Sec. 808.005. INAPPLICABILITY OF REQUIREMENTS INCONSISTENT WITH FIDUCIARY RESPONSIBILITIES AND RELATED DUTIES. A state governmental entity is not subject to a requirement of this chapter if the state governmental entity determines that the requirement would be inconsistent with i…

Sec. 808.006. RELIANCE ON COMPANY RESPONSE. The comptroller and a state governmental entity may rely on a company's response to a notice or communication made under this chapter without conducting any further investigation, research, or inquiry. Added by Acts 2017, 85th Leg., R.S…

Sec. 808.051. LISTED COMPANIES. (a) The comptroller shall prepare and maintain, and provide to each state governmental entity, a list of all companies that boycott Israel. In maintaining the list, the comptroller may review and rely, as appropriate in the comptroller's judgment, …

Sec. 808.052. IDENTIFICATION OF INVESTMENT IN LISTED COMPANIES. Not later than the 30th day after the date a state governmental entity receives the list provided under Section 808.051, the state governmental entity shall notify the comptroller of the listed companies in which the…

Sec. 808.053. ACTIONS RELATING TO LISTED COMPANY. (a) For each listed company identified under Section 808.052, the state governmental entity shall send a written notice: (1) informing the company of its status as a listed company; (2) warning the company that it may become subje…

Sec. 808.054. DIVESTMENT OF ASSETS. (a) A state governmental entity required to sell, redeem, divest, or withdraw all publicly traded securities of a listed company shall comply with the following schedule: (1) at least 50 percent of those assets must be removed from the state go…

Sec. 808.055. INVESTMENTS EXEMPTED FROM DIVESTMENT. A state governmental entity is not required to divest from any indirect holdings in actively or passively managed investment funds or private equity funds. The state governmental entity shall submit letters to the managers of ea…

Sec. 808.056. AUTHORIZED INVESTMENT IN LISTED COMPANIES. (a) A state governmental entity may cease divesting from one or more listed companies only if clear and convincing evidence shows that: (1) the state governmental entity has suffered or will suffer a loss in the hypothetica…

Sec. 808.057. PROHIBITED INVESTMENTS. Except as provided by Section 808.056, a state governmental entity may not acquire securities of a listed company. Added by Acts 2017, 85th Leg., R.S., Ch. 1 (H.B. 89), Sec. 2, eff. September 1, 2017. SUBCHAPTER C. REPORT; ENFORCEMENT

Sec. 808.101. REPORT. Not later than January 5 of each year, each state governmental entity shall file a publicly available report with the presiding officer of each house of the legislature and the attorney general that: (1) identifies all securities sold, redeemed, divested, or…

Sec. 808.102. ENFORCEMENT. The attorney general may bring any action necessary to enforce this chapter. Added by Acts 2017, 85th Leg., R.S., Ch. 1 (H.B. 89), Sec. 2, eff. September 1, 2017.

Sec. 809.001. DEFINITIONS. In this chapter: (1) "Boycott energy company" means, without an ordinary business purpose, refusing to deal with, terminating business activities with, or otherwise taking any action that is intended to penalize, inflict economic harm on, or limit comme…

Sec. 809.002. OTHER LEGAL OBLIGATIONS. With respect to actions taken in compliance with this chapter, including all good faith determinations regarding financial companies as required by this chapter, a state governmental entity and the comptroller are exempt from any conflicting…

Sec. 809.003. INDEMNIFICATION OF STATE GOVERNMENTAL ENTITIES, EMPLOYEES, AND OTHERS. In a cause of action based on an action, inaction, decision, divestment, investment, financial company communication, report, or other determination made or taken in connection with this chapter,…

Sec. 809.004. NO PRIVATE CAUSE OF ACTION. (a) A person, including a member, retiree, or beneficiary of a retirement system to which this chapter applies, an association, a research firm, a financial company, or any other person may not sue or pursue a private cause of action agai…

Sec. 809.005. INAPPLICABILITY OF REQUIREMENTS INCONSISTENT WITH FIDUCIARY RESPONSIBILITIES AND RELATED DUTIES. A state governmental entity is not subject to a requirement of this chapter if the state governmental entity determines that the requirement would be inconsistent with i…

Sec. 809.006. RELIANCE ON FINANCIAL COMPANY RESPONSE. The comptroller and a state governmental entity may rely on a financial company's response to a notice or communication made under this chapter without conducting any further investigation, research, or inquiry. Added by Acts …

Sec. 809.051. LISTED FINANCIAL COMPANIES. (a) The comptroller shall prepare and maintain, and provide to each state governmental entity, a list of all financial companies that boycott energy companies. In maintaining the list, the comptroller may: (1) review and rely, as appropri…

Sec. 809.052. IDENTIFICATION OF INVESTMENT IN LISTED FINANCIAL COMPANIES. Not later than the 30th day after the date a state governmental entity receives the list provided under Section 809.051, the state governmental entity shall notify the comptroller of the listed financial co…

Sec. 809.053. ACTIONS RELATING TO LISTED FINANCIAL COMPANY. (a) For each listed financial company identified under Section 809.052, the state governmental entity shall send a written notice: (1) informing the financial company of its status as a listed financial company; (2) warn…

Sec. 809.054. DIVESTMENT OF ASSETS. (a) A state governmental entity required to sell, redeem, divest, or withdraw all publicly traded securities of a listed financial company shall comply with the following schedule: (1) at least 50 percent of those assets must be removed from th…

Sec. 809.055. INVESTMENTS EXEMPTED FROM DIVESTMENT. A state governmental entity is not required to divest from any indirect holdings in actively or passively managed investment funds or private equity funds. The state governmental entity shall submit letters to the managers of ea…

Sec. 809.056. AUTHORIZED INVESTMENT IN LISTED FINANCIAL COMPANIES. (a) A state governmental entity may cease divesting from one or more listed financial companies only if clear and convincing evidence shows that: (1) the state governmental entity has suffered or will suffer a los…

Sec. 809.057. PROHIBITED INVESTMENTS. Except as provided by Section 809.056, a state governmental entity may not acquire securities of a listed financial company. Added by Acts 2021, 87th Leg., R.S., Ch. 529 (S.B. 13), Sec. 1, eff. September 1, 2021. SUBCHAPTER C. REPORT; ENFORCE…

Sec. 809.101. REPORT. Not later than January 5 of each year, each state governmental entity shall file a publicly available report with the presiding officer of each house of the legislature and the attorney general that: (1) identifies all securities sold, redeemed, divested, or…

Sec. 809.102. ENFORCEMENT. The attorney general may bring any action necessary to enforce this chapter. Added by Acts 2021, 87th Leg., R.S., Ch. 529 (S.B. 13), Sec. 1, eff. September 1, 2021.

Sec. 809A.001. DEFINITIONS. In this chapter: (1) "Chinese-affiliated entity" means a publicly traded entity that: (A) is both: (i) incorporated or headquartered in the People's Republic of China, including in the Hong Kong special administrative region, other than a U.S. subsidia…

Sec. 809A.002. OTHER LEGAL OBLIGATIONS. With respect to actions taken in compliance with this chapter, including all good faith determinations regarding restricted entities as required by this chapter, a state governmental entity and the comptroller are exempt from any conflictin…

Sec. 809A.003. INDEMNIFICATION OF STATE GOVERNMENTAL ENTITIES, EMPLOYEES, AND OTHERS. In a cause of action based on an action, inaction, decision, divestment, investment, restricted entity communication, report, or other determination made or taken in connection with this chapter…

Sec. 809A.004. NO PRIVATE CAUSE OF ACTION. (a) A person, including a member, retiree, or beneficiary of a retirement system to which this chapter applies, an association, a research firm, a restricted entity, or any other person may not sue or pursue a private cause of action aga…

Sec. 809A.005. INAPPLICABILITY OF REQUIREMENTS INCONSISTENT WITH FIDUCIARY RESPONSIBILITIES AND RELATED DUTIES. A state governmental entity is not subject to a requirement of this chapter if the state governmental entity determines that the requirement would be inconsistent with …

Sec. 809A.006. RELIANCE ON FEDERAL DETERMINATION AND RESTRICTED ENTITY RESPONSE. The comptroller may rely on the following, in the following order of priority, without conducting any further investigation, research, or inquiry: (1) a determination by a federal agency or officer m…

Sec. 809A.051. LISTED RESTRICTED ENTITIES. (a) The comptroller shall prepare and maintain, and provide to each state governmental entity, a list of all restricted entities. In maintaining the list, the comptroller may: (1) review and rely, as appropriate in the comptroller's judg…

Sec. 809A.052. IDENTIFICATION OF INVESTMENT IN LISTED RESTRICTED ENTITIES. Not later than the 30th day after the date a state governmental entity receives the list provided under Section 809A.051, the state governmental entity shall notify the comptroller of the restricted entiti…

Sec. 809A.053. NOTICE OF DIVESTMENT TO LISTED RESTRICTED ENTITY. For each listed restricted entity identified under Section 809A.052, the state governmental entity shall send a written notice: (1) informing the restricted entity of its status as a restricted entity; and (2) warni…

Sec. 809A.054. DIVESTMENT OF ASSETS. (a) A state governmental entity required to sell, redeem, divest, or withdraw all publicly traded securities of a listed restricted entity shall comply with the following schedule: (1) at least 50 percent of those assets must be removed from t…

Sec. 809A.055. INVESTMENTS EXEMPTED FROM DIVESTMENT. A state governmental entity is not required to divest from any indirect holdings in actively or passively managed investment funds or private equity funds. The state governmental entity shall submit letters to the managers of e…

Sec. 809A.056. AUTHORIZED INVESTMENT IN LISTED RESTRICTED ENTITIES. (a) A state governmental entity may cease divesting from one or more listed restricted entities only if clear and convincing evidence shows that: (1) the state governmental entity has suffered or will suffer a lo…

Sec. 809A.057. PROHIBITED INVESTMENTS. Except as provided by Section 809A.056, a state governmental entity may not acquire securities of a listed restricted entity. Added by Acts 2025, 89th Leg., R.S., Ch. 981 (S.B. 667), Sec. 1, eff. September 1, 2025. SUBCHAPTER C. REPORT; ENFO…

Sec. 809A.101. REPORT. Not later than January 5 of each year, each state governmental entity shall file a publicly available report with the presiding officer of each house of the legislature and the attorney general that: (1) identifies all securities sold, redeemed, divested, o…

Sec. 809A.102. ENFORCEMENT. The attorney general may bring any action necessary to enforce this chapter. Added by Acts 2025, 89th Leg., R.S., Ch. 981 (S.B. 667), Sec. 1, eff. September 1, 2025.

Sec. 810.001. ESTABLISHMENT OF PUBLIC RETIREMENT SYSTEM. (a) In this section: (1) "Political entity" means a municipality or any agency thereof, a junior college district, river authority, water district, appraisal district, or other special purpose district or authority that is …

Sec. 810.002. ALTERNATIVE BENEFIT PLAN FOR CERTAIN MUNICIPALITIES. (a) In this section, "alternative benefit plan" means a continuing, organized benefit plan, including a plan qualified under Section 401(a) of the Internal Revenue Code of 1986, of service retirement, disability r…