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Montana Title 20. Education § 20-25-308. Prohibition on transfer to foundation

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

In order to implement the provisions of Article VIII, section 12, of the Montana constitution, ownership of the following may not be transferred to a nonprofit corporation or foundation established for the benefit of a unit of the university system unless full market value is received for the transfer and laws applicable to the disposition of property are followed:

(1) money in the higher education funds provided for in 17-2-102;

(2) excess proceeds of money borrowed pursuant to 20-25-402; and

(3) except as provided in 20-25-309, real or personal property acquired with money listed in subsection (1) or proceeds listed in subsection (2).

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Cite this article: FindLaw.com - Montana Title 20. Education § 20-25-308. Prohibition on transfer to foundation - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-20-education/mt-st-20-25-308/

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