(a) If on January 1 of any year the amount in the barbering and cosmetology school tuition protection account is less than $225,000, the department shall collect a fee from each private postsecondary school during that year by applying a percentage to the school's renewal fee at a rate that will bring the balance of the account to $225,000.
(b) The department shall administer claims made against the account.
(c) The comptroller shall invest the account in the same manner as other state funds.
(d) Sufficient money from the account shall be appropriated to the department for the purpose described by Section 1603.3607.
(e) Attorney's fees, court costs, or damages may not be paid from the account.