(a) The fund is an account in a depository selected by the board of regents of The Texas A&M University System in the manner provided by Section 51.003, Education Code, for funds subject to the control of institutions of higher education under Section 51.002, Education Code.
(b) The fund is composed of:
(1) an amount not to exceed $25 million appropriated by the legislature;
(2) money collected under Section 2155.008; and
(3) interest accruing on money in the fund.
(c) Money in the fund may be spent only for:
(1) funding self-insurance under the program; or
(2) administering this chapter, including paying the salaries and expenses of staff for the program and the fund.