{"data":{"id":"us-tx/tex.-government-code-825.3013","jurisdiction":"us-tx","citation":"Tex. Government Code § 825.3013","heading":"TITLE-HOLDING ENTITIES; INVESTMENTS IN REAL PROPERTY.","body":"(a) The retirement system may form a title-holding entity for the purpose of investing the retirement system's assets in real property. The title-holding entity must be:\n(1) wholly owned, organized, and controlled by the system; and\n(2) exempt from taxation under Section 501(a), Internal Revenue Code of 1986, as an organization described by Section 501(c) of that code.\n(b) Subject to Subsection (a)(2), a title-holding entity formed under this section may hold title to real property jointly with another person.\n(c) The board of trustees shall adopt policies for the governance, management, and reporting for a title-holding entity formed under this section.\n(d) The following persons may not be employed by, receive compensation from, be a party to a contract with or a direct or indirect financial beneficiary of a contract with, or hold a direct or indirect interest in a title-holding entity formed by the retirement system under this section:\n(1) a trustee or employee of the system; or\n(2) a relative of a trustee or employee of the system within the second degree of consanguinity or affinity, as determined under Chapter 573.\n(e) Chapter 551 and Subtitles D and F, Title 10, do not apply to a title-holding entity formed under this section.\nAdded by Acts 2023, 88th Leg., R.S., Ch. 1093 (S.B. 1246), Sec. 6, eff. June 18, 2023.","path":["GOVERNMENT CODE","TITLE 8. PUBLIC RETIREMENT SYSTEMS","SUBTITLE C. TEACHER RETIREMENT SYSTEM OF TEXAS","CHAPTER 825. ADMINISTRATION","SUBCHAPTER D. MANAGEMENT OF ASSETS"],"source_url":"https://statutes.capitol.texas.gov/Docs/GV/htm/GV.825.htm#825.3013","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:16Z","sha256":"6a474d159b5d05f4f6d6b8dec5a3537191f9103bc8ab2b5afe22de13f54e8c01","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-government-code-825.3012","next":"us-tx/tex.-government-code-825.3014"},"notice":"GroundRules: Original legal text. Not legal advice."}