Texas Education Code 52.53 – Gifts and Grants
Current as of: 2024 | Check for updates
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Terms Used In Texas Education Code 52.53
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Donor: The person who makes a gift.
- Personal property: All property that is not real property.
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
The board may accept gifts, grants, or donations of real or personal property from any individual, group, association, or corporation or the United States, subject to limitations or conditions set by law. The board shall deposit gifts, grants, or donations of money in the student loan auxiliary fund and shall separately account for and expend the funds in accordance with the specific purpose for which given and under such conditions as are imposed by the donor and as provided by law.