Kansas Statutes 76-837. Same; midwest stem cell therapy center fund
Terms Used In Kansas Statutes 76-837
- Bequest: Property gifted by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Month: means a calendar month, unless otherwise expressed. See Kansas Statutes 77-201
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
(a) There is hereby established in the state treasury the midwest stem cell therapy center fund. Expenditures from the fund may be made for the purposes of furthering the goals and missions of the midwest stem cell therapy center and for such other purposes as may be specified with regard to any grant, gift, contribution or bequest. All such expenditures shall be authorized by the director of the midwest stem cell therapy center and made upon warrants of the director of accounts and reports issued pursuant to vouchers approved by the director of midwest stem cell therapy center.
(b) On or before the 10th of each month, the director of accounts and reports shall transfer from the state general fund to the midwest stem cell therapy center fund interest earnings based on:
(1) The average daily balance of moneys in the midwest stem cell therapy center fund for the preceding month; and
(2) the net earnings rate for the pooled money investment portfolio for the preceding month.