Texas Education Code 54.711 – No Promise of Admission, Enrollment, or Graduation
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Terms Used In Texas Education Code 54.711
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
The opening or maintenance of a savings trust account does not promise or guarantee that a beneficiary of the account will:
(1) be admitted to any eligible educational institution;
(2) be admitted to a particular eligible educational institution;
(3) be allowed to continue enrollment at an eligible educational institution after admission; or
(4) receive a degree or certificate from an eligible educational institution.