Texas Education Code 54.635 – Comptroller
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(a) Except as provided by Subsection (d), the comptroller is the custodian of the assets of the fund.
(b) The comptroller shall pay money from the fund on a warrant drawn by the comptroller supported only on a voucher signed by the comptroller or the comptroller’s authorized representative.
Terms Used In Texas Education Code 54.635
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Signed: includes any symbol executed or adopted by a person with present intention to authenticate a writing. See Texas Government Code 311.005
- sworn: includes affirm or affirmed. See Texas Government Code 312.011
(c) The comptroller annually shall furnish to the board a sworn statement of the amount of the fund’s assets in the comptroller’s custody.
(d) The board may select one or more commercial banks, depository trust companies, or other entities to serve as custodian of all or part of the fund’s assets.