Skip to content
Breadcrumbs

eXpendit

Note: To navigate this guide on a mobile device you must use the Table of Contents.

Investments
Purchase of Securities

The Comptroller’s office or the disbursing officer of an agency that has the power to invest assets directly may pay for authorized securities purchased from or through a member in good standing of the National Association of Securities Dealers or from a national or state bank. A purchase of securities may not be made at a price that exceeds the existing market value of the securities.

A state agency may not acquire securities of a company that is included on a list prepared and maintained by the Comptroller’s office under Government Code, Sections 807.051, 808.051, 2252.153 or 2270.0201 of companies that are either:

  • Known to have contracts with (or provide supplies or services to) a foreign terrorist organization.
  • Engaged in scrutinized business operations in Sudan or Iran, as defined in Government Code, Sections 807.001(10), 808. and 2270.001(9).
    –or–
  • Boycotting Israel as defined in Government Code, Section 808.001(1).

A state agency that has invested in a listed company must comply with the applicable notification and divestment requirements in Government Code, Chapters 807, 808, 2252 and 2270.