§302A-420 Profits to pupils. All net profits arising from agricultural and industrial pursuits under sections 302A-420 to 302A-431 at any school, under the rules of the department:
(1) Shall be used by the school for the purchase of equipment and material, not otherwise provided for in the school budget, that will be of general benefit to the pupils; or
(2) May be distributed among the pupils actually engaged in the pursuits.
The department shall provide for the keeping of simple books of account, showing the source and distribution of the money resulting from the operations carried on pursuant to this section, and for the auditing of these books of account at least quarterly. [L 1996, c 89, pt of §2; am L 1997, c 144, §2]