Texas Education Code - EDUC § 59.22. Veterinary Medical Diagnostic Professional Liability Fund

(a) The board may establish a separate self-insurance fund to pay any damages adjudged in a court of competent jurisdiction or a settlement of any veterinary malpractice claim against a member of the professional staff arising from the exercise of his appointment or duties with the Texas Veterinary Medical Diagnostic Laboratory.

(b) The board may pay from the fund all expenses incurred in amounts and at intervals determined by the board.

(c) The board may receive and accept any gifts or donations into the fund.

(d) The board may invest money deposited in the fund, and any income received shall be retained in the fund.  The money shall be deposited in any of the approved depository banks of The Texas A & M University System.  All expenditures from the fund shall be paid pursuant to approval by the board.