Tex. Educ. Code Section 43.015
Duties of Comptroller


(a)

Not later than the 30th day before the first day of each regular session of the legislature and not later than the 10th day before the first day of any special session at which there can be legislation respecting the public schools, the comptroller shall report to the governor the condition of the permanent school fund and the available school fund, the amount of each fund, and the manner of its disbursement.

(b)

The comptroller shall provide the State Board of Education with the reports specified by Subsection (a) and with additional reports concerning those funds requested by the State Board of Education.

(c)

The comptroller shall ensure that no portion of either the permanent school fund or the available school fund is used to pay any warrant drawn against any other fund.

(d)

The comptroller shall receive and hold in a special deposit and account for all properties belonging to the available school fund. All warrants drawn on that fund by the comptroller pursuant to a certificate of the commissioner must be registered by the comptroller and then transmitted to the commissioner, and when properly endorsed shall be paid by the comptroller in the order of their presentation.

(e)

On order of the State Board of Education, the comptroller shall exchange or accept refunding bonds in lieu of:

(1)

either matured or unmatured bonds held for the benefit of the permanent school fund, which are being refunded under this chapter;

(2)

defaulted obligations held for the benefit of the available school fund if the refunding bonds are issued in compliance with Section 43.012 (Refunding Other Defaulted Obligations);

(3)

defaulted obligations of any school district of this state held for the benefit of the permanent school fund or the available school fund if the refunding bonds are issued in compliance with Section 43.011 (Authorized Refunding of Defaulted School Bonds); or

(4)

refunding bonds of any school district of this state for school bonds not matured held by the comptroller for the permanent school fund if the new refunding bonds are issued by the school district in compliance with this code.

(f)

The comptroller shall be the custodian of all securities enumerated in Section 43.003 (Investment of Permanent School Fund)(6) and of other securities as designated by the State Board of Education in which the school funds of the state are invested. The comptroller shall keep those securities in the comptroller’s custody until paid off, discharged, delivered as required by the State Board of Education, or otherwise disposed of by the proper authorities of the state, and on the proper installment of any interest or dividend, shall see that the proper credit is given, and the coupons on bonds, when paid, shall be separated from the bonds and cancelled by the comptroller.
Added by Acts 1995, 74th Leg., ch. 260, Sec. 1, eff. May 30, 1995. Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 5.04, eff. Sept. 1, 1997.

Source: Section 43.015 — Duties of Comptroller, https://statutes.­capitol.­texas.­gov/Docs/ED/htm/ED.­43.­htm#43.­015 (accessed Mar. 23, 2024).

43.001
Composition of Permanent School Fund and Available School Fund
43.002
Transfers from Permanent School Fund and General Revenue Fund to Available School Fund
43.003
Investment of Permanent School Fund
43.004
Written Investment Objectives
43.005
External Investment Managers
43.006
Investment Management
43.007
Purchase and Sale or Exchange of Securities
43.009
Prepayment of Certain Bonds Held by the Permanent School Fund
43.010
Default of School District Securities Held by the Permanent School Fund
43.011
Authorized Refunding of Defaulted School Bonds
43.012
Refunding Other Defaulted Obligations
43.013
Jurisdiction
43.014
Duties of Comptroller
43.015
Duties of Comptroller
43.016
Use of Available School Fund
43.017
Use of Commercial Banks as Agents for Collection of Income from Permanent School Fund Investments
43.018
Participation in Fully Secured Securities Loan Programs
43.019
Accounting Treatment of Certain Exchanges
43.020
Treatment of Accrued Income
43.0031
Permanent School Fund Ethics Policy
43.0032
Conflicts of Interest
43.0033
Reports of Expenditures
43.0034
Forms
43.0051
Transfers to Real Estate Special Fund Account of the Permanent School Fund
43.051
Definitions
43.052
Creation of Corporation
43.053
Board of Directors
43.054
Chief Executive Officer
43.055
Employees
43.056
Sovereign Immunity
43.057
Liability Insurance for Board Members and Employees
43.058
Ethics Policy
43.059
Applicability of Certain Laws
43.060
Exception to Open Meeting Requirements for Certain Consultations Concerning Investments
43.061
Record Retention
43.062
Information Technology and Associated Resources
43.063
General Powers and Duties of Corporation
43.064
Contracting for Facilities and Necessary Support
43.065
Written Investment Objectives
43.066
Distributions by Corporation from Permanent School Fund to Available School Fund
43.067
Bond Guarantee Program
43.068
Annual Audit
43.069
Annual Investment Report
43.070
Report on Anticipated Transfer to Available School Fund
43.071
Gifts, Grants, and Donations

Accessed:
Mar. 23, 2024

§ 43.015’s source at texas​.gov