Sec. 51.068. FUND ACCOUNTS. (a) Payments of principal, interest, and lease rental shall be accounted for in a similar form but separate from first payments on land.
(b) The comptroller shall deposit 90 percent of the payments on land received each month to the probable fund to which the payments belong as indicated by the commissioner and shall hold the remaining 10 percent of the payments in the suspense account until the comptroller receives notice from the commissioner indicating the proper fund for the payments. After notice is received, the comptroller shall credit the full amount to the proper fund.
(c) The commissioner and comptroller shall keep an account with each fund according to advices given by them and shall retain the advices as permanent records.
Added by Acts 2015, 84th Leg., R.S., Ch. 3 (S.B. 903), Sec. 5, eff. September 1, 2015.
Structure Texas Statutes
Subtitle D - Disposition of the Public Domain
Chapter 51 - Land, Timber, and Surface Resources
Subchapter C. Sale of Public School and Asylum Land
Section 51.052. Conditions for Sale of Land
Section 51.054. Reservation of Minerals
Section 51.0551. Lists of Public Land Offered for Sale: Criminal Penalties
Section 51.056. Application or Request to Purchase Land
Section 51.065. Notice and Record of Sale
Section 51.067. Information Required With Payments
Section 51.069. Disposition of Payments on Public School Land
Section 51.070. Unpaid Principal on Public School Land Sales
Section 51.071. Forfeiture of Land
Section 51.072. Effect of Forfeiture
Section 51.073. Classification and Sale of Leased and Forfeited Land
Section 51.074. Reinstatement of Land Purchases
Section 51.075. Forfeiture of a Deceased Purchaser's Land
Section 51.076. Legal Proceedings
Section 51.0771. Reinstatement Fee
Section 51.078. Transfer of Indebtedness
Section 51.079. Transfers Generally
Section 51.080. Personal Transfers
Section 51.081. Transfers Other Than Personal Transfer
Section 51.082. Liability of Vendee
Section 51.083. Patent on Part of a Tract