Each school receiving a grant under this chapter may establish, at a federally insured financial institution, a trust fund for the purposes of this section.
(2) Deposits and use
The school may provide—
(A)for deposit into the trust fund, only funds from non-Federal sources, except that the interest on funds received from grants provided under this chapter may be used for that purpose;
(B)for deposit into the trust fund, any earnings on funds deposited in the fund; and
(C)for the sole use of the school any noncash, in-kind contributions of real or personal property, which may at any time be used, sold, or otherwise disposed of.
Interest from the fund established under subsection (a) of this section may periodically be withdrawn and used, at the discretion of the school, to defray any expenses associated with the operation of the school consistent with the purposes of this Act.
This Act, referred to in subsec. (b), is Pub. L. 100–297and probably should be “this part”, meaning part B of title V of Pub. L. 100–297, known as the Tribally Controlled Schools Act of 1988, which is classified generally to this chapter. For complete classification of part B to the Code, see Short Title note set out under section
2501 of this title and Tables.
Section effective Jan. 8, 2002, except with respect to certain noncompetitive programs and competitive programs, see section 5 ofPub. L. 107–110, set out as a note under section
6301 of Title
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
Description of Change
Statutes at Large
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