Texas § ED.61.3075 - REQUIRED FINANCIAL RESOURCES
Full text of Texas The Texas Constitution § ED.61.3075 — REQUIRED FINANCIAL RESOURCES, with citation guidance and answers to common questions.
§ ED.61.3075. REQUIRED FINANCIAL RESOURCES
REQUIRED FINANCIAL RESOURCES. The board by rule may require an institution operating under a certificate of authority, or seeking to operate under a certificate of authority, to ensure that the financial resources and financial stability of the institution are adequate to provide education of a good quality and to fulfill the institution's commitments to its enrolled students and may require the institution to provide to the board documentation of the institution's compliance with those requirements. Rules adopted under this subsection must: (1) require the institution to maintain reserves, lines of credit, or surety instruments that, when combined with tuition and fee receipts, are sufficient to allow the institution to fulfill its educational obligations to its enrolled students if the institution is unable to continue to provide instruction to its enrolled students for any reason; and (2) require that the financial resources maintained under Subdivision (1) be conditioned to allow only the board to withdraw funds for the benefit of the institution's enrolled students under the circumstance described by Subdivision (1). Text of section effective on September 1, 2017, but only if a specific appropriation is provided as described by Acts 2017, 85th Leg., R.S., Ch. 940 (S.B. 1781 ), Sec. 9, which states: This Act takes effect only if a specific appropriation for the implementation of the Act is provided in a general appropriations act of the 85th Legislature. Added by Acts 2017, 85th Leg., R.S., Ch. 940 (S.B. 1781 ), Sec. 3, eff. September 1, 2017.
Frequently Asked Questions About Texas § ED.61.3075
What does The Texas Constitution § ED.61.3075 cover?
Section ED.61.3075 ("REQUIRED FINANCIAL RESOURCES") 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.61.3075?
A common citation format is "The Texas Constitution § ED.61.3075" (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.61.3075 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.