North Dakota § 54-54-08.2 Cultural endowments - Limitations

North Dakota Statutes

§ 54-54-08.2 — Cultural endowments - Limitations

North Dakota § 54-54-08.2

Title 54State Government

Ch. 54-54Council on the Arts

This text of North Dakota § 54-54-08.2 (Cultural endowments - Limitations) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 54-54-08.2 (2026).

Text

Investment of the cultural endowment fund must be under the supervision of the state
investment board in accordance with chapter 21-10. Funds will be expended from the cultural
endowment fund only to the limits of accrued interest on state general fund appropriations and
other public and private funds received. The expenditure of endowment funds must occur at the
direction of the North Dakota council on the arts. The council may seek the counsel and
assistance of a group or groups of private citizens of the council's choosing to aid it in arriving at
expenditure decisions when private funds are involved. Section 54-54-06 applies to private
donations to the cultural endowment fund; provided, that gifts, donations, and bequests can be
dedicated as principal of the fund in perpetuity or for a

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Investment of the cultural endowment fund must be under the supervision of the state
investment board in accordance with chapter 21-10. Funds will be expended from the cultural
endowment fund only to the limits of accrued interest on state general fund appropriations and
other public and private funds received. The expenditure of endowment funds must occur at the
direction of the North Dakota council on the arts. The council may seek the counsel and
assistance of a group or groups of private citizens of the council's choosing to aid it in arriving at
expenditure decisions when private funds are involved. Section 54-54-06 applies to private
donations to the cultural endowment fund; provided, that gifts, donations, and bequests can be
dedicated as principal of the fund in perpetuity or for a term of years, in which case only the
income earned as a result of investment of those funds can be expended pursuant to section
54-54-08.1 and this section.