Skip to main content
Find a Lawyer

Idaho Statutes Title 66. State Charitable Institutions § 66-1101. Mental hospital permanent endowment fund

Current as of January 01, 2024 | Updated by Findlaw Staff

(1) There is established in the state treasury the mental hospital permanent endowment fund. This fund is perpetually appropriated for the beneficiaries of the endowment. The fund shall be managed and invested by the endowment fund investment board according to law and the policies established by the state board of land commissioners. The fund principal shall forever remain intact. The fund shall be a permanent fund and shall consist of the following:

(a) Proceeds from the sale of lands granted to the state of Idaho under the provisions of section 11 of the Idaho Admission Bill, 26 Stat. L. 215, ch. 656, known at the time of admission as insane asylum lands, and lands granted in lieu thereof;

(b) Proceeds of royalties from the extraction of minerals on mental hospital lands owned by the state;

(c) Moneys allocated from the mental hospital earnings reserve fund.

(2) Provided however, that proceeds from the sale of mental hospital lands may be first deposited into the land bank fund established in section 58-133, Idaho Code, to be used to acquire other lands within the state for the benefit of beneficiaries of the mental hospital endowment. If the land sale proceeds are not used to acquire other lands in accordance with section 58-133, Idaho Code, the proceeds shall be deposited into the mental hospital permanent endowment fund along with any earnings on the proceeds.

(3) Earnings from the investment of the mental hospital permanent endowment fund shall be distributed according to the provisions of section 57-723A, Idaho Code.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Idaho Statutes Title 66. State Charitable Institutions § 66-1101. Mental hospital permanent endowment fund - last updated January 01, 2024 | https://codes.findlaw.com/id/title-66-state-charitable-institutions/id-st-sect-66-1101/

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.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard