Interest received from the trust funds time deposits shall be available for loans, scholarships, fellowships, institutional research, faculty aid, and other lawful purposes.
(a) Separate accounts shall be kept on the books of the institution showing the sources of all sums collected and the purposes for which disbursements are made.(b) All trust funds, including gifts, grants, and bequests received, establishing or adding to endowment funds, loan and scholarship funds, and funds for other current restricted purposes, shall be credited to separate accounts and shall not be commingled with other local or institutional funds.(c) If the governing board so elects, deposits of all funds not specifically required to be deposited to special accounts may be deposited in a single bank account if the records of the institution clearly reflect the balances attributable to general funds and various categories of trust funds.(d) Interest received from depository banks for funds on deposit may be credited to an appropriate account in either general funds or trust funds in relation to the sources of temporary investments in time deposits, if the disposition of the earnings was not specified by the grantor.
(a) The governing board of each institution may select one or more depositories as places of deposit for the funds enumerated in Section 51.002 of this code.
(a) A governing board may deposit funds under its control as provided in Section 51.003 of this code, may invest funds under its control in accordance with Chapter 2256, Government Code and, with regard to donations, gifts, and trusts, may establish endowment funds that operate as trusts and are managed under prudent person standards.(b) Funds described in this section may also be invested in cash management and fixed income funds held by organizations exempt from federal taxation under Section 501(f) of the Internal Revenue Code of 1986 (26 U.
The foreign bank must:(1) be licensed and supervised by a central bank;(2) be audited annually by an accounting firm that follows international financial reporting standards; and(3) maintain a capital to total assets ratio that is not less than the greater of four percent or the minimum tier 1 capital to total assets ratio required for depository institutions insured by the Federal Deposit Insurance Corporation.
Venue for a suit to recover an amount claimed by the state to be due on a surety bond is in Travis County.(f) Notwithstanding any other provision of this section, the governing board of each institution may maintain unsecured deposits in a foreign bank as necessary to support the institution's academic and research operations in the foreign country in which the bank is located, provided that no appropriated or tuition funds other than those collected from students enrolled in the affected programs are deposited.
Driving Laws: Persons must be 16 years of age or older to obtain a valid Texas Driver License.
San Marcos has been a favorite destination for more than 12,000 years.
An underwater archeological dig in Spring Lake at the Headwaters of the San Marcos River uncovered Indian artifacts dating back over 12,000 years to the Clovis Indians, the oldest known inhabitants of the western hemisphere.
This is reportedly the longest continuously inhabited site in North America, according to underwater archeologist Dr. Our People: With a population of more than 64,589 (2018), San Marcos boasts a unique multicultural heritage and history where Hispanic, African-American, German, Anglo and other cultural influences are a part of everyday life.
The depository banks selected may pledge their securities to protect the funds.(d) A depository shall pay interest on the deposits at a rate agreed on by the depository and the governing board.(e) Any surety bond furnished under the provisions of this section shall be payable to the governor and his successors in office.
Funds that are to be deposited in the depository bank or banks must be deposited within seven days from the date of receipt by the institution.(c) The governing board shall require adequate surety bonds or securities to be posted to secure the deposits and may require additional security at any time it deems the deposits inadequately secured.
Texas State University is the state's fifth largest university with more than 38,000 students. Check out a sampling of our Trips, Treks and Adventures - San Marcos Itineraries to find the perfect fit for your family or group.