3-1085. Cotton research and protection council
fund; use by director
A. The cotton research and protection council fund is established for the purpose
of administering this article. The council shall administer the fund. The fund consists
of penalties collected pursuant to sections 3-204 and 3-205, fees and other income
collected pursuant to this article.
B. The director may request the use of fund monies for the abatement of upland
cotton fields and for those purposes provided for under the abatement provisions of
sections 3-204 and 3-205. Monies distributed pursuant to this subsection shall be repaid
to the fund within one calendar year after their disbursement, but the council may extend
the repayment period at its discretion and set the terms and conditions for repayment.
C. The council may deposit monies from fees assessed pursuant to section 3-1086 in
the fund. The council shall deposit monies from penalties collected pursuant to section
3-204 in the fund.
D. The monies in the fund may be invested pursuant to section 35-313. Interest
earned on these monies shall be credited to the fund.
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