Sec. 54.716. EFFECT OF TERMINATION OF PLAN ON SAVINGS TRUST AGREEMENT. If the plan is terminated, the balance of each savings trust account shall be paid to the account owner, to the extent possible, and any unclaimed assets shall escheat to the state in accordance with general law regarding unclaimed property.
Added by Acts 2001, 77th Leg., ch. 1250, Sec. 1, eff. June 15, 2001.
Structure Texas Statutes
Subtitle A - Higher Education in General
Subchapter G. Higher Education Savings Plan
Section 54.702. Powers and Duties of Board
Section 54.703. Operation of Plan; Accounts Held in Trust
Section 54.704. Selection of Financial Institution as Plan Manager
Section 54.705. Duties of Plan Manager
Section 54.706. Contract Between Board and Plan Manager
Section 54.707. Savings Trust Accounts
Section 54.708. Contributions and Withdrawals
Section 54.709. Administration of Accounts
Section 54.710. Plan Limitations
Section 54.711. No Promise of Admission, Enrollment, or Graduation
Section 54.712. Residency Not Required
Section 54.714. Confidentiality of Records
Section 54.715. Termination or Modification of Plan
Section 54.716. Effect of Termination of Plan on Savings Trust Agreement