The state board of education is designated as the state agency empowered to make application to the secretary of agriculture of the United States, or any other proper federal official, pursuant and subject to the provisions of act of May 3, 1950 (P.L. 81-499; 40 U.S.C. § 440 et seq.) for the trust assets, either funds or property, held by the United States as trustee on behalf of the Arizona rural rehabilitation corporation.

Terms Used In Arizona Laws 15-1171

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Property: includes both real and personal property. See Arizona Laws 1-215
  • Subject: means a division or field of organized knowledge, such as English or mathematics, or a selection from an organized body of knowledge for a course or teaching unit, such as the English novel or elementary algebra. See Arizona Laws 15-101
  • Trustee: A person or institution holding and administering property in trust.
  • United States: includes the District of Columbia and the territories. See Arizona Laws 1-215

 

 

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