Texas Government Code 575.003 – Acceptance of Gift by State Agency Governing Board
Current as of: 2024 | Check for updates
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Terms Used In Texas Government Code 575.003
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
A state agency that has a governing board may accept a gift only if the agency has the authority to accept the gift and a majority of the board, in an open meeting, acknowledges the acceptance of the gift not later than the 90th day after the date the gift is accepted.