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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) The mental health trust fund is established as a separate fund of the Alaska Mental Health Trust Authority.
(b) The fund consists of the cash assets of the principal of the trust, and includes
(1) money appropriated to the fund;
(2) the proceeds of sale or other disposals of mental health trust land, and the fees, charges, income earned, royalty proceeds, and other money received from the management of mental health trust land attributable to principal; and
(3) gifts, bequests, and contributions from other sources.
(c) The net income of the fund shall be determined by the Alaska Permanent Fund Corporation in the same manner the corporation determines the net income of the Alaska permanent fund under AS 37.13.140.
(d) The authority shall adopt regulations providing for the determination of amounts attributable to principal under (b)(2) of this section. The regulations must provide for the allocation between principal and income of money received from the management of mental health trust land, and the manner of allocation must be in the long-term best interest of the trust and its beneficiaries.
Cite this article: FindLaw.com - Alaska Statutes Title 37. Public Finance § 37.14.031. Trust fund established - last updated January 01, 2025 | https://codes.findlaw.com/ak/title-37-public-finance/ak-st-sect-37-14-031/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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