1007.111 – GIFTS AND ENDOWMENTS. The board may accept for
Texas Special District Local Laws Code § 1007.111
Summary
This law allows the board of a district to accept gifts or endowments to be held in trust. The board must administer these gifts according to the donor's written instructions, as long as they align with the district's management practices.
Board can accept gifts or endowments for the district.
Gifts must be administered per donor's written instructions.
Instructions must not conflict with district management.
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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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