(a) Except as provided by Subsection (d), the comptroller is the custodian of the assets of the fund.
(b) The comptroller shall pay money from the fund on a warrant drawn by the comptroller supported only on a voucher signed by the comptroller or the comptroller's authorized representative.
(c) The comptroller annually shall furnish to the board a sworn statement of the amount of the fund's assets in the comptroller's custody.
(d) The board may select one or more commercial banks, depository trust companies, or other entities to serve as custodian of all or part of the fund's assets.
Official text of the Texas Education Code as published by the Texas Legislative Council.