§ 15-03-01 — Permanent funds - State treasurer

All moneys belonging to the permanent funds of the common schools and other public
institutions derived from the sale of any of the lands described in section 15-01-02 or from any
other source must be paid over to the state treasurer and are subject to the order of the board of
university and school lands. Such moneys must be paid over on the order of the board for
investment as provided in this chapter whenever the board requires the same.