Texas Education Code

§ 106.53 — ACCOUNTS; TRUST FUNDS

ED § 106.53Title 3. HIGHER EDUCATION · Part F. OTHER COLLEGES AND UNIVERSITIES · Ch. 106. TEXAS SOUTHERN UNIVERSITY · Art. D. CONTROL OF UNIVERSITY FUNDS

Statute text

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Separate accounts shall be kept on the books of the university, showing the sources of all sums collected and the purposes for which expended. All trust funds handled by the board shall be deposited in separate accounts and shall not be commingled with the general income from student fees or other local institutional income, and all trust funds shall be secured by separate bonds or securities.

Legislative history

Acts 1971, 62nd Leg., p. 3251, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.