Tex. Educ. Code § 45.113 · Subchapter E. MISCELLANEOUS PROVISIONS
TRUST FOR COUNTY PERMANENT SCHOOL FUND.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Notwithstanding former Subchapter E, Chapter 17, as that subchapter existed on May 1, 1995, the commissioners court of a county may:
(1) sell or otherwise dispose of county school lands in the manner determined by the court;
(2) establish an irrevocable trust for the proceeds of a sale or other disposition under Subdivision (1); and
(3) invest the principal of a trust created under Subdivision (2) in any investment permitted for other county funds under Chapter 2256, Government Code.
(b) The members of the commissioners court and their successors in office must be the sole trustees of a trust established under Subsection (a)(2). The trustees may not delegate the authority to manage or invest the trust but may contract with qualified persons for investment advice.
(c) The principal of a trust established under Subsection (a)(2) constitutes a portion of the county permanent school fund and must be held in perpetuity for the benefit of the public schools in the county. The income of a trust established under Subsection (a)(2) constitutes a portion of the county available school fund and may be distributed as permitted by law.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 641 (H.B. 890), Sec. 1, eff. June 15, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/ED/htm/ED.45.htm
- Text hash
- sha256 36089405cf0f78dd16bff2955a689be82216a513cb442b096370d9c109962893
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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