(a) A private donor may make donations to the Board to be spent for specified or unspecified public higher education purposes. If the donor specifies the purpose, the Board must expend the donation only for that purpose. (b) All donations shall be expended in accordance with the provisions of the State Appropriations Act and shall be deposited in the state treasury unless exempted by specific statutory authority. (c) All donations shall be coordinated through the Commissioner. (d) The Board may not transfer a private donation to a foundation or private/public development fund without specific written permission from the donor and the written approval of the Commissioner.

Source Note: The provisions of this §1.82 adopted to be effective February 26, 2004, 29 TexReg 1658