SECTION 1.505. Disposition of Accepted Gift or Donation

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(a) Monetary gift or donation. The department will deposit monetary donations in the state treasury, in an approved account, to the credit of the department. The money shall be used to carry out the purposes of the department and the purposes specified by the donor.
(b) Gift of tangible goods. The department's General Services Division will record or inventory a gift of tangible goods donated under this section in accordance with department procedures.
(c) Real property. A deed that conveys any interest in real property to the state shall be recorded in the real property records of the county in which the real property is located, and shall be deposited and retained by the department's Right of Way Division after recordation.

Source Note: The provisions of this §1.505 adopted to be effective April 1, 1997, 22 TexReg 2625; amended to be effective September 23, 1997, 22 TexReg 9259

                    
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