Issue Date: 2008-02-15
Revised Date: 2017-06-20

Legal Cites

Origin:

2008

Purpose

To hold corporate surety bonds posted by private driving training schools as required by law in an amount of $10,000 for the primary school location and $5,000 for each branch location. To hold surety bonds posted by course providers of $10,000. Amounts are to reimburse students in the event of a school closure or discontinuation of a course.

Classification Group 08: Trust Funds [?]
Depository Interest Credited to General Revenue Fund (0001)
Disposition of Balance Accumulative
Appropriation Technique Not appropriated for state expenditure.

Note

H.B. 1786, 84th Leg., R.S. moved driver’s education program from the Texas Education Agency to Texas Department of Licensing and Regulation. 

H.B. 912, 85th Leg., R.S. reduced surety bond amount from $25,000 to $10,000 for course providers.

USAS Values

USAS Title PRIVATE DRIVING SCHOOL SECURITY TRUST FD
Consolidated Fund
State Fund Group 08 - TRUST FUNDS
USAS Status A
Those funds created to account for assets held by the state in a trustee capacity for individuals, private organizations or other governmental entities