[§304A-107] Loans; advances.
110 words·~1 min read·
/hi/304a-107A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[§304A-107] Loans; advances. The university may borrow, from time to time from the state treasury, sums that in the aggregate shall not exceed $100,000, and the director of finance may make the loans to the university, without interest; provided that the loans shall be repaid within the same fiscal year unless extended by the director. In addition to the foregoing, the director of finance may advance funds to the university when required to meet reimbursable costs incurred in connection with federally financed research and training projects; provided that the advances shall not amount in the aggregate to more than $100,000 at any time. [L 2006, c 75, pt of §2]