Texas Education Code 62.143 – Administration and Investment of Fund
Current as of: 2024 | Check for updates
|
Other versions
(a) The Texas University Fund is a fund outside the state treasury held by the comptroller and administered by the trust company.
(b) The trust company shall administer and invest the fund in accordance with § 20, Article VII, Texas Constitution.
Terms Used In Texas Education Code 62.143
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
(c) The trust company shall determine the amount available for distribution from the fund in accordance with a distribution policy adopted by the comptroller that is designed to:
(1) preserve the purchasing power of the fund’s assets over an economic cycle, subject to the liquidity needs of the fund; and
(2) provide as nearly as practicable a stable and predictable stream of annual distributions.