2025 Session
Last amended: 2003 session
§ 16A.015 — Investment of Gifts
Plain-Language Summary
Requires donated funds meant to be kept invested to be invested the same way as state school funds.
16A.015 INVESTMENT OF GIFTS.
In case it is provided by the terms of such will, deed of gift, or other instrument that the capital of the money, property, or fund constituting such gift, bequest, devise, or endowment, or any part of such capital, shall be kept invested, the same shall be invested and kept invested in the same manner and by the same officers or body as the school funds of the state are by law required to be invested.
History:
1907 c 170 s 3; 2003 c 112 art 2 s 50
History: History: 1907 c 170 s 3; 2003 c 112 art 2 s 50
Practical Notes
Ensures that endowments gifted to the state are managed with the same care as education investment funds.