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260c-32
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
