Tex. Educ. Code § 66.07 · Subchapter A. COMPOSITION, INVESTMENT, AND USE
CUSTODY AND INVESTMENT OF ASSETS PENDING TRANSACTIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
With the approval of the comptroller, the board of regents of The University of Texas System may appoint one or more commercial banks, depository trust companies, or other entities to serve as a custodian or custodians of the permanent university fund's securities with authority to hold the money realized from those securities pending completion of an investment transaction if the money held is reinvested within one business day of receipt in investments determined by the board of regents. Money not reinvested within one business day of receipt shall be deposited in the state treasury not later than the fifth day after the date of receipt.
Notes and commentary — not statutory text
History
Added by Acts 1997, 75th Leg., ch. 1311, Sec. 2, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/ED/htm/ED.66.htm
- Text hash
- sha256 8e4ebf83cf4768db88bb6de47e949893b69e336ab813f62ca50b85813622c861
- 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
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.