Sec. 54.767.  USE OF FUND ASSETS.  The assets of the fund may be used only to:
(1)  pay the costs of program administration and operations;
(2)  make payments to general academic teaching institutions, two-year institutions of higher education, private or independent institutions of higher education, medical and dental units, career schools, accredited out-of-state institutions of higher education, and registered apprenticeship programs on behalf of beneficiaries; and
(3)  make refunds under prepaid tuition contracts.
Added by Acts 2007, 80th Leg., R.S., Ch. 1281 (H.B. 3900), Sec. 1, eff. June 15, 2007.
Amended by: 
Acts 2009, 81st Leg., R.S., Ch. 560 (S.B. 1941), Sec. 7, eff. June 19, 2009.
Acts 2019, 86th Leg., R.S., Ch. 903 (H.B. 3655), Sec. 12, eff. June 10, 2019.
Acts 2021, 87th Leg., R.S., Ch. 599 (S.B. 1094), Sec. 7, eff. September 1, 2021.