1001.110 – GIFTS AND ENDOWMENTS. (a) The board may accept
Texas Special District Local Laws Code § 1001.110
Summary
This law allows a district's board to accept gifts or endowments for trust management, provided they align with the district's objectives. It also permits the establishment of a foundation or nonprofit corporation to manage these contributions.
Board can accept gifts or endowments for district purposes.
Donor's written directions must align with district management.
Board may create a foundation or nonprofit for administration.
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In simple terms: Learn about Texas's GIFTS AND ENDOWMENTS. (a) The board may accept 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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