Sec. 54.767. USE OF FUND ASSETS. The assets of the fund may be used only to:
(1) pay the costs of program administration and operations;
(2) make payments to general academic teaching institutions, two-year institutions of higher education, private or independent institutions of higher education, medical and dental units, career schools, and accredited out-of-state institutions of higher education on behalf of beneficiaries; and
(3) make refunds under prepaid tuition contracts.
Added by Acts 2007, 80th Leg., R.S., Ch. 1281 (H.B. 3900), Sec. 1, eff. June 15, 2007.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 560 (S.B. 1941), Sec. 7, eff. June 19, 2009.
Acts 2019, 86th Leg., R.S., Ch. 903 (H.B. 3655), Sec. 12, eff. June 10, 2019.
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