Texas Education Code

§ 12.1281 — DISPOSITION OF PROPERTY PURCHASED WITH STATE FUNDS

ED § 12.1281Title 2. PUBLIC EDUCATION · Part C. LOCAL ORGANIZATION AND GOVERNANCE · Ch. 12. CHARTERS · Art. D. OPEN-ENROLLMENT CHARTER SCHOOL

Statute text

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(a)A former charter holder of an open-enrollment charter school that has ceased to operate may retain property described by Section 12.128 if the former charter holder reimburses the state with non-state funds and the former charter holder:

(1)provides written assurance that the requirements of Section 12.1284 will be met; and

(2)receives approval from the agency.

(b)On receiving consent from the agency under Section 12.128(b-2) and a written agreement from any creditor with a security interest described by Section 12.128(e), the former charter holder may:

(1)sell property for fair market value; or

(2)transfer property to an open-enrollment charter school or a school district as provided under Section 12.1282.

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Legislative history

Added by Acts 2019, 86th Leg., R.S., Ch. 631 (S.B. 1454), Sec. 8, eff. June 10, 2019.