Texas Special District Local Laws Code 1096.108 – Gifts and Endowments
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Terms Used In Texas Special District Local Laws Code 1096.108
- Donor: The person who makes a gift.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
The board may accept a gift or endowment to be held and administered as required by the respective donor, to the extent that those requirements do not contravene law.