Sec. 45.107.  INVESTMENT OF GIFTS, DEVISES, AND BEQUESTS.  A gift, devise, or bequest made to a school district to provide college scholarships for graduates of the district may be invested by the board of trustees of the district as provided by Section 117.004, Property Code, unless otherwise specifically provided by the terms of the gift, devise, or bequest.
Added by Acts 1995, 74th Leg., ch. 260, Sec. 1, eff. May 30, 1995.  Amended by Acts 2003, 78th Leg., ch. 1103, Sec. 9, eff. Jan. 1, 2004.