35-20-311. Principal of fund to be reserved -- income to be turned over to treasurer.
78 words·~1 min read·
/mt/title-35/chapter-20/part-3/35-20-311·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
35-20-311 . Principal of fund to be reserved -- income to be turned over to treasurer. The principal of such fund shall in all cases remain intact and inviolate. But the trustees of such fund shall on January 1 and July 1 in each year turn over to the treasurer of such association all accrued income arising from such fund, and the receipt of such treasurer therefor shall be a sufficient voucher in the hands of such trustees.