Sec. 105.105. FUNDS RECEIVED FOR TRUST SERVICES. (a) The board may deposit in an appropriate system account outside the state treasury all funds received as administrative fees or charges for services rendered in the management or administration of a trust estate under the control of the system.
(b) The funds under Subsection (a) may be spent by the board for any educational purpose of the system.
Amended by Acts 2001, 77th Leg., ch. 25, Sec. 1, eff. May 2, 2001.
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