The board of trustees may take by gift, grant, devise, or bequest any money or real or personal property or other thing of value for the benefit of the police pension fund. All rewards in moneys, fees, gifts, or emoluments of every kind or nature that may be paid or given to any police department or to any member thereof, except when allowed to be retained or given to endow a medal or other permanent or competitive reward on account of extraordinary services rendered by the department or any member thereof, and all fines and penalties imposed upon members, shall be paid into and shall become a part of the pension fund.

Terms Used In North Dakota Code 40-45-04

  • Bequest: Property gifted by will.
  • Devise: To gift property 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.
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