53C-3-103 - Disposition of interest on permanent funds.
53C-3-103. Disposition of interest on permanent funds.
(1) The interest and dividends derived from the investment of funds belonging to thepermanent State School Fund and the interest, dividends, and other income of the permanentfunds of the respective state institutions shall be distributed for use for the maintenance of publicelementary and secondary schools or the state institutions in accordance with Title 51, Chapter 7,State Money Management Act.
(2) Realized and unrealized gains shall be retained in the Permanent State School Fund.
Amended by Chapter 226, 2003 General Session