§70-3907. College and university related foundations - Priorities
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and guidelines for use of unrestricted income.
It is the intent of the Legislature that trustees of college- and university-related foundations establish priorities and guidelines for the use of unrestricted income. It is the further intent of the Legislature that unrestricted income be used exclusively for the enrichment of the academic programs and purposes of the institution or institutions to which such foundation is related. Added by Laws 1987, c. 229, § 3, eff. July 1, 1987.