163.005[1/2] – APPROPRIATION FOR EXPENDITURE OR ACCUMULATION OF
Texas Property Code § 163.005[1/2]
Summary
This law allows institutions to manage endowment funds by either spending or saving portions based on donor intent. It ensures that institutions can make prudent financial decisions regarding the use of these funds.
Institutions can spend or accumulate endowment funds prudently.
Decisions must align with the donor's expressed intent.
Default rules apply unless specified otherwise in the gift instrument.
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In simple terms: Learn about Texas's APPROPRIATION FOR EXPENDITURE OR ACCUMULATION OF law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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