SECTION 22.147. Disbursements

Awards are to be made to eligible students at each institution in accordance with this section.

(1) For public senior colleges and universities. The department deposits funds from purchased license plates directly into the institution's account at the State Comptroller's Office. Therefore, public senior colleges and universities may draw from those funds as appropriate to make awards to eligible students.

(2) For other institutions. Funds will be made available to the institution through the Board. At least once per year the Board will send the institution the amount of License Plate Insignia Scholarship funds generated through the sale of license plates and deposited by the department in the State Comptroller's Office for that institution. An institution that accumulates a balance of funds exceeding $500 may request and receive up to three supplemental disbursements in a given year.

Source Note: The provisions of this §22.147 adopted to be effective August 16, 2004, 29 TexReg 7986; amended to be effective August 25, 2008, 33 TexReg 6816; amended to be effective November 28, 2012, 37 TexReg 9359