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RULE §1.504Donation Agreement

(a) Agreement. The donor and the department must execute a donation agreement if the donation involves real estate, has an estimated value of more than $1,500, or it is necessary to:

  (1) warrant or indemnify the department as to ownership;

  (2) prevent possible claims that could result from the use of the property; or

  (3) document conditions of the gift.

(b) Content. The agreement shall include:

  (1) a description of the donation, including a determination of its value;

  (2) a statement by the donor attesting to its ownership rights in the property;

  (3) any conditions restricting the use of the donation;

  (4) the mailing address of the donor and principal place of business if the donor is a business entity;

  (5) a statement identifying the official relationship between the donor and the department;

  (6) a statement advising the donor that the department neither approves nor is responsible for any representations by the donor for tax purposes; and

  (7) the signature of the donor if the donor is an individual or its official representative if the donor is an entity other than an individual;

  (8) relocation benefits, if any; and

  (9) the signature of the executive director.

(c) Public information. A donation agreement entered into in accordance with this subsection is public information.

Source Note: The provisions of this §1.504 adopted to be effective April 1, 1997, 22 TexReg 2625; amended to be effective September 23, 1997, 22 TexReg 9259; amended to be effective November 21, 2002, 27 TexReg 10753

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