Texas § ED.130.007 - ENDOWMENT FUND
Full text of Texas The Texas Constitution § ED.130.007 — ENDOWMENT FUND, with citation guidance and answers to common questions.
§ ED.130.007. ENDOWMENT FUND
ENDOWMENT FUND. (a) The board of trustees of a public junior college may establish an endowment fund outside the state treasury in a depository selected by the board of trustees. (b) The board of trustees may deposit local funds collected by the board to the credit of the endowment fund. (c) The board of trustees may accept gifts and grants from any public or private source for the endowment fund. (d) The endowment fund consists of local funds deposited to the credit of the endowment fund, gifts, grants, and income from investing the endowment fund. (e) The board of trustees may invest the endowment fund in securities, bonds, and other investments that the board considers prudent. In making investments under this section, the board shall exercise the judgment and care under the circumstances then prevailing that a person of ordinary prudence, discretion, and intelligence exercises in the management of the person's own affairs. (f) The board may not spend any money deposited in the endowment fund as local funds, gifts, or grants but may spend any income from investing the endowment fund for the operation or maintenance of the junior college. Added by Acts 1993, 73rd Leg., ch. 391, Sec. 1, eff. June 2, 1993.
Frequently Asked Questions About Texas § ED.130.007
What does The Texas Constitution § ED.130.007 cover?
Section ED.130.007 ("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.130.007?
A common citation format is "The Texas Constitution § ED.130.007" (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.130.007 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.