Texas Education Code

§ 12.1284 — CLOSURE OF CHARTER SCHOOL OPERATIONS

ED § 12.1284Title 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)After extinguishing all payable obligations owed by an open-enrollment charter school that ceases to operate, including a debt described by Section 12.128(e), a former charter holder shall:

(1)remit to the agency:

(A)any remaining funds described by Section 12.106(h); and

(B)any state reimbursement amounts from the sale of property described by Section 12.128; or

(2)transfer the remaining funds to another charter holder under Section 12.106(i).

(b)The agency shall deposit any funds received under Subsection (a)(1) in the charter school liquidation fund.

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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.