Statutes > Iowa Statutes > Title 7 - Education and Cultural Affairs > Subtitle 2 - Community Colleges > CHAPTER 260C - COMMUNITY COLLEGES > 260C.32 - TRUSTS.

260C.32 - TRUSTS.

        260C.32  TRUSTS.
         The board of a merged area may accept and administer trusts and
      may authorize nonprofit foundations acting solely for the support of
      the community college to accept and administer trusts deemed by the
      board to be beneficial to the operation of the community college.
      Notwithstanding section 633.63, the board and the nonprofit
      foundations may act as trustees in these instances.  The board shall
      require that moneys belonging to a nonprofit foundation are audited
      annually.
         Section History: Early Form
         [82 Acts, ch 1121, § 1]
         Section History: Recent Form
         C83, § 280A.32
         90 Acts, ch 1253, §40
         C93, § 260C.32