55-131 Adjutant General; property; receipt as trustee; control; disposition; Military Department Cash Fund; created; investment. - Nebraska Statutes

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Statutes > Nebraska > Chapter55 > 55-131

55-131. Adjutant General;property; receipt as trustee; control; disposition; Military Department CashFund; created; investment.The Military DepartmentCash Fund is created. The fund shall be administered by the Adjutant General.The fund shall consist of all nonfederal revenue received by the NationalGuard pursuant to this section. The Adjutant General is hereby authorizedto accept by devise, gift, or otherwise and hold, as trustee, for the benefitand use of the National Guard or any part thereof any property, real or personal;to invest and reinvest the property; to collect, receive, and recover therents, incomes, and issues from the property; and to expend them as providedby the terms of the devise or gift, or if not so provided, to expend themfor the benefit and use of the National Guard as he or she in his or her discretionshall determine, subject to the approval of the Governor. Except as otherwiseprovided by law, all other money received by the National Guard and derivedfrom any other source shall be remitted to the State Treasurer for creditto the Military Department Cash Fund. Transfersmay be made from the fund to the General Fund at the direction of the Legislature. Anymoney in the Military Department Cash Fund availablefor investment shall be invested by the state investment officer pursuantto the Nebraska Capital Expansion Act and the Nebraska State Funds InvestmentAct. SourceLaws 1929, c. 189, § 20, p. 662; C.S.1929, § 55-126; R.S.1943, § 55-150; Laws 1965, c. 342, § 1, p. 973; R.R.S.1943, § 55-150; Laws 1969, c. 459, § 29, p. 1591; Laws 1969, c. 584, § 55, p. 2379; Laws 1995, LB 7, § 61; Laws 2006, LB 787, § 9; Laws 2007, LB322, § 9; Laws 2009, First Spec. Sess., LB3, § 31. Cross ReferencesNebraska Capital Expansion Act, see section 72-1269.Nebraska State Funds Investment Act, see section 72-1260.

State Codes and Statutes

Statutes > Nebraska > Chapter55 > 55-131

55-131. Adjutant General;property; receipt as trustee; control; disposition; Military Department CashFund; created; investment.The Military DepartmentCash Fund is created. The fund shall be administered by the Adjutant General.The fund shall consist of all nonfederal revenue received by the NationalGuard pursuant to this section. The Adjutant General is hereby authorizedto accept by devise, gift, or otherwise and hold, as trustee, for the benefitand use of the National Guard or any part thereof any property, real or personal;to invest and reinvest the property; to collect, receive, and recover therents, incomes, and issues from the property; and to expend them as providedby the terms of the devise or gift, or if not so provided, to expend themfor the benefit and use of the National Guard as he or she in his or her discretionshall determine, subject to the approval of the Governor. Except as otherwiseprovided by law, all other money received by the National Guard and derivedfrom any other source shall be remitted to the State Treasurer for creditto the Military Department Cash Fund. Transfersmay be made from the fund to the General Fund at the direction of the Legislature. Anymoney in the Military Department Cash Fund availablefor investment shall be invested by the state investment officer pursuantto the Nebraska Capital Expansion Act and the Nebraska State Funds InvestmentAct. SourceLaws 1929, c. 189, § 20, p. 662; C.S.1929, § 55-126; R.S.1943, § 55-150; Laws 1965, c. 342, § 1, p. 973; R.R.S.1943, § 55-150; Laws 1969, c. 459, § 29, p. 1591; Laws 1969, c. 584, § 55, p. 2379; Laws 1995, LB 7, § 61; Laws 2006, LB 787, § 9; Laws 2007, LB322, § 9; Laws 2009, First Spec. Sess., LB3, § 31. Cross ReferencesNebraska Capital Expansion Act, see section 72-1269.Nebraska State Funds Investment Act, see section 72-1260.

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State Codes and Statutes

Statutes > Nebraska > Chapter55 > 55-131

55-131. Adjutant General;property; receipt as trustee; control; disposition; Military Department CashFund; created; investment.The Military DepartmentCash Fund is created. The fund shall be administered by the Adjutant General.The fund shall consist of all nonfederal revenue received by the NationalGuard pursuant to this section. The Adjutant General is hereby authorizedto accept by devise, gift, or otherwise and hold, as trustee, for the benefitand use of the National Guard or any part thereof any property, real or personal;to invest and reinvest the property; to collect, receive, and recover therents, incomes, and issues from the property; and to expend them as providedby the terms of the devise or gift, or if not so provided, to expend themfor the benefit and use of the National Guard as he or she in his or her discretionshall determine, subject to the approval of the Governor. Except as otherwiseprovided by law, all other money received by the National Guard and derivedfrom any other source shall be remitted to the State Treasurer for creditto the Military Department Cash Fund. Transfersmay be made from the fund to the General Fund at the direction of the Legislature. Anymoney in the Military Department Cash Fund availablefor investment shall be invested by the state investment officer pursuantto the Nebraska Capital Expansion Act and the Nebraska State Funds InvestmentAct. SourceLaws 1929, c. 189, § 20, p. 662; C.S.1929, § 55-126; R.S.1943, § 55-150; Laws 1965, c. 342, § 1, p. 973; R.R.S.1943, § 55-150; Laws 1969, c. 459, § 29, p. 1591; Laws 1969, c. 584, § 55, p. 2379; Laws 1995, LB 7, § 61; Laws 2006, LB 787, § 9; Laws 2007, LB322, § 9; Laws 2009, First Spec. Sess., LB3, § 31. Cross ReferencesNebraska Capital Expansion Act, see section 72-1269.Nebraska State Funds Investment Act, see section 72-1260.