Public-domain · open source
OpenJurist

Tex. Parks & Wild. Code § 11.064

RESTRICTIONS

Added by Acts 1985, 69th Leg., ch. 267, art. 1, Sec. 21, eff

(a) No expenditure shall be made from the principal of the lifetime license endowment account if that expenditure would lower the unencumbered balance of the principal of the account below $20 million.

(b) The interest earnings on and principal in the lifetime license endowment account may not be used to pay salaries or employee benefits.

(c) The interest earnings on the lifetime license endowment account may be used for any purpose described by Section 11.063.

(d) The principal in the lifetime license endowment account may be used only for the purpose described by Section 11.063(3).

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.