Texas § 45.113 TRUST FOR COUNTY PERMANENT SCHOOL FUND.

Texas Statutes

§ 45.113 — TRUST FOR COUNTY PERMANENT SCHOOL FUND.

Texas § 45.113

Code EDEducation Code

This text of Texas § 45.113 (TRUST FOR COUNTY PERMANENT SCHOOL FUND.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Education Code Code Ann. § 45.113 (2026).

Text

Sec. 45.113. TRUST FOR COUNTY PERMANENT SCHOOL FUND.

(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

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Sec. 45.113. TRUST FOR COUNTY PERMANENT SCHOOL FUND. (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.