| (a) This section applies to a charter holder unless
alternative procedures for purchasing and selling real property held
in trust have been approved by the commissioner of education under §100.1006
of this title (relating to Optional Open-Enrollment Charter Provisions
for Contracting and Purchasing), and the open-enrollment charter has
been amended by the commissioner to adopt the approved procedures.
(b) A requirement in Government Code, Chapter 2252,
Subchapter D, that applies to a school district or the board of trustees
of a school district applies to a charter school, the governing body
of a charter holder, or the governing body of a charter school.
(1) A charter holder may not purchase real property
held in trust until the trustee submits to the governing body of the
charter holder a copy of the trust agreement identifying the true
owner of the property. The trustee shall identify the true owner of
the property to the charter holder.
(2) A charter holder may not sell real property to
a trustee until the charter holder receives from the trustee a copy
of the trust agreement identifying the person who will be the true
owner of the property. The trustee shall identify the person who will
be the true owner of the property to the charter holder.
(3) A conveyance of property subject to this section
is void if a charter holder fails to comply with this section.
(4) A trust agreement submitted to the governing body
of the charter holder is confidential information excepted from the
requirements of Government Code, §552.021, but must be disclosed
to the Texas Education Agency under §100.1029 (relating to Agency
Audits, Monitoring, and Investigations).
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