Texas Government Code 575.004 – Record of Gift
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Terms Used In Texas Government Code 575.004
- Donor: The person who makes a gift.
- 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 accepts a gift must record the name of the donor, a description of the gift, and a statement of the purpose of the gift in:
(1) the minutes of the governing board of the agency; or
(2) appropriate agency records, if the agency does not have a governing board.