MANAGEMENT OF FUND.
Tex. FIN Code § 156.553.
in effect(a) The commissioner, as manager of the mortgage grant fund, shall:
(1) subject to Subsection (b), invest and reinvest the assets of the fund;
(2) make disbursements from the fund in accordance with Section 156.554 ;
(3) advise the finance commission regarding the fund;
(4) maintain books and records for the fund as required by the finance commission; and
(5) appear at hearings or judicial proceedings related to the fund.
(b) Amounts in the mortgage grant fund may be invested and reinvested in accordance with Chapter 2256 , Government Code, and under the prudent person standard described in Section 11b , Article VII, Texas Constitution.
Added by Acts 2021, 87th Leg., R.S., Ch. 929 (H.B. 3617 ), Sec. 7, eff. September 1, 2021.