(a) All collections of the costs levied by this subchapter are specifically declared to be cash funds, restricted in their use and dedicated and to be used solely as provided in this subchapter.
(b) The moneys shall not be deposited into the State Treasury but shall be deposited by the Board of Trustees of the University of Arkansas as and when received, and in such bank as the board may from time to time select, to the credit of the State Legal Education Fund, and applied for the purposes authorized by this subchapter.