Texas § ED.56.247 - STUDENT ENDOWMENT FUND
Full text of Texas The Texas Constitution § ED.56.247 — STUDENT ENDOWMENT FUND, with citation guidance and answers to common questions.
§ ED.56.247. STUDENT ENDOWMENT FUND
STUDENT ENDOWMENT FUND. (a) Each institution shall establish a student endowment fund consisting of the revenue from the additional student fee and the interest and other income from investment of the fund. The fund shall be invested by the governing board in accordance with the policies governing investment of other funds held and invested by the board on behalf of the institution. (b) Scholarships and internships shall be paid from the fund, subject to the requirements of this section and Section 56.246 . (c) Scholarships and internships may be paid from both the income and the principal of the fund, except that after the first five-year period after the date the fund is established, not more than five percent of the principal of the fund may be expended for scholarships and internships for any year. (d) For purposes of this section, five percent of the capital gains for any year from investment of the fund is considered income. Added by Acts 1999, 76th Leg., ch. 1473, Sec. 1, eff. Sept. 1, 1999. Amended by: Acts 2007, 80th Leg., R.S., Ch. 555 (S.B. 1417 ), Sec. 4, eff. September 1, 2007. SUBCHAPTER M. TOWARD EXCELLENCE, ACCESS, & SUCCESS (TEXAS) GRANT PROGRAM
Frequently Asked Questions About Texas § ED.56.247
What does The Texas Constitution § ED.56.247 cover?
Section ED.56.247 ("STUDENT ENDOWMENT FUND") 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.56.247?
A common citation format is "The Texas Constitution § ED.56.247" (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.56.247 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.