(a) A state agency which is authorized by statute to accept money from a private donor or for which a private organization exists that is designed to further the purposes and duties of the agency shall adopt rules governing the relationship between:
(1) the donor or organization; and
(2) the agency and its employees.
(b) Rules adopted under this section shall govern all aspects of conduct of the agency and its employees in the relationship, including:
(1) administration and investment of funds received by the organization for the benefit of the agency;
(2) use of an employee or property of the agency by the donor or organization;
(3) service by an officer or employee of the agency as an officer or director of the donor or organization; and
(4) monetary enrichment of an officer or employee of the agency by the donor or organization.

(c) A rule adopted under this section may not conflict with or supersede a requirement of a statute regulating:
(1) the conduct of an employee of a state agency; or
(2) the procedures of a state agency.
(d) A newly created state agency shall adopt rules under this section as soon as possible after its creation.
(e) In this section, “state agency” means a department, commission, board, office, or other agency in the executive branch of state government created by the constitution or a statute of this state, including a university system or an institution of higher education as defined by § 61.003, Education Code.