(a) A separate permanent endowment fund is established for the benefit of each of the following institutions of higher education:
(1) The University of Texas Health Science Center at San Antonio;
(2) The University of Texas M. D. Anderson Cancer Center;
(3) The University of Texas Southwestern Medical Center;
(4) The University of Texas Medical Branch at Galveston;
(5) The University of Texas Health Science Center at Houston;
(6) The University of Texas Health Science Center at Tyler;
(7) The University of Texas at El Paso;
(8) The Texas A&M University Health Science Center;
(9) the University of North Texas Health Science Center at Fort Worth;
(10) the components of the Texas Tech University Health Sciences Center located in El Paso;
(11) the components of the Texas Tech University Health Sciences Center at locations other than El Paso;
(12) the regional academic health center established under § 74.611; and
(13) Baylor College of Medicine, if a contract between Baylor College of Medicine and the Texas Higher Education Coordinating Board is in effect under § 61.092.
(b) Each separate permanent endowment fund is a special fund in the treasury outside the general revenue fund.

(c) Each separate permanent endowment fund is composed of:
(1) money transferred to the fund at the direction of the legislature;
(2) gifts and grants contributed to the fund; and
(3) the returns received from investment of money in the fund.