Sec. 61.07761.  FINANCIAL AID AND OTHER TRUSTEED FUNDS ALLOCATION.  (a)  For any funds trusteed to the board for allocation to institutions of higher education and private or independent institutions of higher education, including financial aid program funds, the board by rule shall:
(1)  establish and publish the allocation methodologies; and
(2)  develop procedures to verify the accuracy of the application of those allocation methodologies by board staff.
(b)  The board shall consult with affected stakeholders before adopting rules under this section.
Added by Acts 2013, 83rd Leg., R.S., Ch. 1155 (S.B. 215), Sec. 46, eff. September 1, 2013.