North Dakota Code 15-20.1-16.1 – Gifts – Authorization to accept and use
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The director, with the approval of the state board, may accept and use gifts made unconditionally by will or otherwise for carrying out the purposes of this chapter. Gifts made under such conditions as in the judgment of the state board are proper and consistent with the provisions of this chapter may be so accepted and must be held, invested and reinvested, and used in accordance with the conditions of the gift.
Terms Used In North Dakota Code 15-20.1-16.1
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49