California Education Code

§ 41031

EDC § 41031 Effective Sep 30, 2002Div. 3 · Title 2 · Part 24 · Ch. 1 · Art. 3

Statute text

Any gift or bequest of money which is to be invested pursuant to this article shall be placed in a district special fund in the county treasury, to be designated as a Foundation Fund. If the gift or bequest of money is required to be used for specific purposes according to the terms of the gift or bequest, the governing board shall place the money in a separate account in the Foundation Fund, and may by resolution designate the separate account by the name that it shall be known, including in its name the term “Foundation Account.”

Legislative history

Amended by Stats. 2002, Ch. 1168, Sec. 12. Effective September 30, 2002.