Texas Education Code - Section 65.36. Donations For Professorships And Scholarships
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§ 65.36. DONATIONS FOR PROFESSORSHIPS AND
SCHOLARSHIPS. (a) Donations of property may be made and accepted
by the board for the purpose of establishing or assisting in the
establishment of a professorship or scholarship in the university
system or any of its component institutions, or for creating in the
university system or any of its component institutions any trust
for any lawful, educational, or charitable purpose, either
temporarily or permanently, and the donations or trusts thereby
created will be governed by the rules prescribed by this section.
(b) The legal title to the property shall be vested in the
board acting as an entity, or the State of Texas, to be held in trust
for the purpose under any directions, limitations, and provisions
that may be declared in writing in the donation or trust agreement,
not inconsistent with the objectives and proper management of the
system or its component institutions.
(c) The donor may declare and direct the manner in which the
title to the property shall thereafter be transmitted from the
trustee in continued succession, to be held for and appropriated to
the declared purposes.
(d) The donor may declare and direct the person or class of
persons who shall receive the benefit of the donation and the manner
of their selection.
(e) The declarations, directions, and limitations shall not
be inconsistent with the objects and proper management of the
system or its institutions.
(f) In case of failure to transmit the title to the property
or to bestow its use in the manner declared and directed in the
donation, or in case the uses, or either of them, become
impracticable from the change of circumstances, the title to the
property, unless otherwise expressly directed by the donor, shall
vest in this state to be held in trust to carry into effect the
purposes of the donation as nearly as practicable by such agencies
as may be provided therefor.
(g) The title to the property donated shall be received, and
the trust conferred in the donation shall be assumed, subject to
laws that may be passed and carried into effect from time to time
which may be necessary to prevent the loss of, or damage to, the
property donated, or an abuse or neglect of the trust so as to
defeat, materially change, or prevent the objects of the donation.
(h) Copies of the donation shall be filed with the board or
the branch to which the donation applies; and the board shall
report the condition and management of the property and the manner
in which the trust is being administered as part of the matters
reported pertaining to the institution.
Acts 1971, 62nd Leg., p. 3146, ch. 1024, art. 1, § 1, eff. Sept.
1, 1971. Amended by Acts 1973, 63rd Leg., p. 1577, ch. 568, § 1,
eff. Aug. 27, 1973.
Section: 65.15 65.16 65.31 65.32 65.33 65.34 65.35 65.36 65.37 65.38 65.39 65.40 65.41 65.42 65.43
Last modified: August 11, 2007
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