Texas § ED.54.644 - TAX EXEMPT STATUS REQUIREMENTS
Full text of Texas The Texas Constitution § ED.54.644 — TAX EXEMPT STATUS REQUIREMENTS, with citation guidance and answers to common questions.
§ ED.54.644. TAX EXEMPT STATUS REQUIREMENTS
TAX EXEMPT STATUS REQUIREMENTS. (a) The provisions of this section are intended to meet the requirements of Section 529 of the Internal Revenue Code of 1986. (b) A payment of an amount due to the fund for a prepaid tuition contract must be made in cash. A person may not make a payment to the fund in excess of the amounts required to be paid under a prepaid tuition contract. (c) The board shall maintain a separate accounting for each beneficiary. (d) The purchaser of a prepaid tuition contract and the beneficiary of the contract may not control or direct the investment of payments under the contract or any earnings of the fund. (e) The purchaser of a prepaid tuition contract and the beneficiary of the contract may not use any interest in the contract as security for a loan or other obligation. (f) The board shall make reports required by the secretary of the United States Treasury. Added by Acts 1997, 75th Leg., ch. 522, Sec. 11, eff. Sept. 1, 1997. SUBCHAPTER G. HIGHER EDUCATION SAVINGS PLAN
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § ED.54.644
What does The Texas Constitution § ED.54.644 cover?
Section ED.54.644 ("TAX EXEMPT STATUS REQUIREMENTS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § ED.54.644?
A common citation format is "The Texas Constitution § ED.54.644" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § ED.54.644 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.