Texas Register, Volume 25, Number 47, Pages 11605-11768, November 24, 2000 Page: 11,651
11605-11768 p. ; 28 cm.View a full description of this periodical.
Extracted Text
The following text was automatically extracted from the image on this page using optical character recognition software:
(B) be employed for two years after the end of his or
her term on the SBOE with an organization in which the PSF invested,
unless the organization's stock or other evidence of ownership is traded
on the public stock or bond exchanges.
(i) Solicitation of support. No SBOE Member shall solicit sup-
port on behalf of any political candidate from a PSF manager, consul-
tant, or staff member. The manager, consultant, or staff member shall
report any such incident in writing to the commissioner of education
for distribution to the SBOE.
(j) Hiring external professionals. The SBOE may contract
with private professional investment managers to help make PSF
investments. The SBOE has the authority and responsibility to hire
other external professionals, including custodians or consultants. The
SBOE shall select each professional based solely on merit and subject
to the provisions of 33.55 of this title (relating to Standards for
Selecting Consultants, Investment Managers, Custodians, and Other
Professionals To Provide Outside Expertise for the Fund).
(k) Responsibilities of PSF Service Providers. The PSF Ser-
vice Providers shall be notified in writing of the code of ethics con-
tained in this section. Any existing contracts for investment and any
future investment shall strictly conform to this code of ethics. The PSF
Service Provider shall report in writing any suggestion or offer by an
SBOE Member to deviate from the provisions of this section to the
commissioner of education for distribution to the SBOE. A PSF Service
Provider or other person retained in a fiduciary capacity must comply
with the provisions of this section.
(1) Gifts and entertainment.
(1) Bribery. SBOE Members are prohibited from solicit-
ing, offering, or accepting gifts, payments, and other items of value in
exchange for an official act, including a vote, recommendation, or any
other exercise of official discretion (Texas Penal Code, 36.02).
(2) Acceptance of gifts.
(A) An SBOE Member may not accept gifts, favors,
services, or benefits that may reasonably tend to influence the SBOE
Member's official conduct or that the SBOE Member knows or should
know are intended to influence the SBOE Member's official conduct.
For purposes of this section, a gift does not include an item with a value
of less than $50, excluding cash or negotiable instruments.
(B) An SBOE Member may not accept a gift, favor, ser-
vice, or benefit from a person that the SBOE Member knows is inter-
ested or is likely to become interested in a charter, contract, purchase,
payment, claim, or other pecuniary transaction over which the SBOE
has discretion.
(C) An SBOE Member may not accept a gift, favor, ser-
vice, or benefit from a person that the SBOE Member knows to be sub-
ject to the regulation, inspection, or investigation of the SBOE or the
TEA.
(D) An SBOE Member may not solicit, accept, or agree
to accept a benefit from a person with whom civil or criminal litigation
is pending or contemplated by the SBOE or the TEA.
(E) So long as the gift or benefit is not given by a person
subject to the SBOE's or the TEA's regulation, inspection, or investi-
gation, an SBOE Member may accept a gift, payment, or contribution
from an individual who is not registered as a lobbyist with the Texas
Ethics Commission if it fits into one of the following categories:
(i) items worth less than $50 (may not be cash,
checks, or negotiable instruments);(ii) independent relationship, such as kinship, or
a personal, professional, or business relationship independent of the
SBOE Member's official capacity;
(iii) fees for services rendered outside the SBOE
Member's official capacity;
(iv) government property issued by a governmental
entity that allows the use of the property; or
(v) food, lodging, entertainment, and transportation,
if accepted as a guest and the donor is present.
(F) The following provisions govern the disposition of
an individual who is registered as a lobbyist with the Texas Ethics Com-
mission.
(i) An SBOE Member may not accept:
(I) loans, cash, or negotiable instruments; or
(II) travel or lodging for a pleasure trip.
(ii) An SBOE Member may accept:
(I) food and beverages, if the lobbyist is present;
(II) entertainment worth up to $500 in a calendar
year, if the lobbyist is present;
(III) gifts, other than awards and mementos, that
combined do not exceed $500 in value for a calendar year. This does
not include food, entertainment, lodging, and transportation;
(IV) individual awards and mementos worth not
more than $500 each; or
(V) travel and lodging in connection with a fact-
finding trip or to a seminar or conference at which the SBOE Member
is providing services. The lobbyist must be present.
(G) An SBOE Member may not solicit, agree to accept,
or accept an honorarium in consideration for services that the SBOE
Member would not have been asked to provide but for the SBOE Mem-
ber' s official position. An SBOE Member may accept food, transporta-
tion, and lodging in connection with a speech performed as a result
of the SBOE Member's position. An SBOE Member must report the
food, lodging, or transportation accepted under this subparagraph in
the SBOE Member's annual personal financial statement.
(H) Under no circumstances shall an SBOE Member
accept a prohibited gift if the source of the gift is not identified or if
the SBOE Member knows or has reason to know that the gift is being
offered through an intermediary.
(I) If an unsolicited prohibited gift is received by an
SBOE Member, he or she should return the gift to its source. If that
is not possible or feasible, the gift should be donated to charity. The
SBOE Member shall report the return of the gift or the donation of the
gift to the commissioner of education.
(J) A PSF Service Provider shall file a report annually
on April 30 of each year on the expenditure report provided in this sub-
section entitled "Report of Expenditures of Persons Providing Services
to the State Board of Education Relating to the Management and In-
vestment of the Permanent School Fund." The expenditure report must
describe in detail any expenditure of more than $50 made by the person
on behalf of:
(i) an SBOE Member;
(ii) the commissioner of education; orADOPTED RULES November 24, 2000 25 TexReg 11651
Upcoming Pages
Here’s what’s next.
Search Inside
This issue can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Periodical.
Texas. Secretary of State. Texas Register, Volume 25, Number 47, Pages 11605-11768, November 24, 2000, periodical, November 24, 2000; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth113971/m1/50/: accessed May 21, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.