1006.108 – GIFTS AND ENDOWMENTS. The board may accept for
Texas Special District Local Laws Code § 1006.108
Summary
This law allows the board of a special district to accept gifts or endowments, which will be held in trust and managed according to the donor's written instructions. It ensures that the management of these funds aligns with the district's objectives and legal requirements.
Board can accept gifts or endowments for district purposes.
Funds must be managed according to donor's written directions.
Management must align with district's objectives and legal standards.
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In simple terms: Learn about Texas's GIFTS AND ENDOWMENTS. The board may accept for 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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