Gavvy: Gov’t Code, Sec. 2256.021. Effect of Loss of Required Rating.

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Sec. 2256.021. Effect of Loss of Required Rating.

Sec. 2256.021. EFFECT OF LOSS OF REQUIRED RATING. 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.

Added by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995.

Gavvy last updated this database on: Sep 6, 2024