Educ. Code Section 61.3075
Required Financial Resources
(1)require the institution to maintain reserves, lines of credit, or surety instruments that, when combined with tuition and fee receipts, are sufficient to allow the institution to fulfill its educational obligations to its enrolled students if the institution is unable to continue to provide instruction to its enrolled students for any reason; and
(2)require that the financial resources maintained under Subdivision (1) be conditioned to allow only the board to withdraw funds for the benefit of the institution’s enrolled students under the circumstance described by Subdivision (1).
Section 61.3075 — Required Financial Resources,
https://statutes.capitol.texas.gov/Docs/ED/htm/ED.61.htm#61.3075 (accessed Dec. 2, 2023).