The University of Texas at Tyler
Tyler   •   Longview   •   Palestine
Text Resize

Bequest Language

“I give, devise and bequeath (a specific amount, a percentage of my residual estate) to the Board of Regents of The University of Texas System (“Board of Regents”) for the use and benefit of The University of Texas at Tyler.”

Option A – Gift for General Use

“This gift shall be used in support of (state purpose). These funds shall never become a part of the Permanent University Fund, the Available University Fund or the General Fund of the State of Texas and shall never be subject to appropriation by the Legislature of the State of Texas.”

Option B – Gift to Create an Endowment

“This gift shall be used to create the (name of endowment) as a permanent endowment for the (name of appropriate College, School and/or Department). Funds distributed from the endowment shall be used to (state purpose).

Such funds shall never become a part of the Permanent University Fund, the Available University Fund or the General Fund of the State of Texas, and shall never be subject to appropriation by the Legislature of the State of Texas. These funds and all future additions to the endowment, including those made by the Board of Regents or The University of Texas at Tyler administration, shall be subject to these provisions and shall be classified as permanent endowment funds. If, in the opinion of the Board of Regents, future circumstances change so that the purpose for which this endowment is established becomes illegal, impracticable, or no longer able to be carried out to meet the needs of The University of Texas at Tyler, said Board of Regents may designate an alternative use for the endowment payout in accordance with applicable state law to further the objective of The University of Texas at Tyler, in the spirit of the original purpose of the endowment.

These endowment funds may be merged or commingled with other funds held by the Board of Regents for investment purposes in accordance with the policies of the Board of Regents. I acknowledge and agree that in connection with administration and management of the endowment funds, the Board of Regents may charge certain expenses against the endowment funds for administration, management and similar charges. Funds distributed from the endowment in a year may be retained and expended for the purposes of the endowment in subsequent years, or may be reinvested, at the discretion of the Board of Regents or The University of Texas at Tyler administration, as a permanent addition to the principal of the endowment.”
scriptsknown
©