Learn About the Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2024 | Updated by FindLaw Staff
(a) The Texas tomorrow constitutional trust fund is created as a trust fund to be held with the comptroller. The fund consists of:
(1) state appropriations for purposes of the fund;
(2) money acquired from other governmental or private sources;
(3) money paid under prepaid tuition contracts; and
(4) the income from money deposited in the fund.
(b) The board shall administer the assets of the fund. The board is the trustee of the fund's assets.
(c) The board may:
(1) segregate contributions and payments to the fund into various accounts; and
(2) acquire, hold, manage, purchase, sell, assign, trade, transfer, and dispose of any security, evidence of indebtedness, or other investment in which the fund's assets may be invested.
(d) The Texas college savings plan account is created within the Texas tomorrow constitutional trust fund and is financed through administrative fees and service charges as authorized by Section 54.702(c).
Cite this article: FindLaw.com - Texas Education Code - EDUC § 54.634. Establishment of Trust Fund; College Savings Plan Account - last updated January 01, 2024 | https://codes.findlaw.com/tx/education-code/educ-sect-54-634/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)