Sec. 156.553. MANAGEMENT OF FUND. (a) The commissioner, as manager of the mortgage grant fund, shall: (1) subject to Subsection (b), invest and reinvest the assets of the fund; (2) make disbursements from the fund in accordance with Section 156.554 ; (3) advise the finance commission regarding the fund; (4) maintain books and records for the fund as required by the finance commission; and (5) appear at hearings or judicial proceedings related to the fund. (b) Amounts in the mortgage grant fund may be invested and reinvested in accordance with Chapter 2256 , Government Code, and under the prudent person standard described in Section 11b , Article VII, Texas Constitution.
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