Trust Distributions of Principal Prohibited; Income From Trust Investments Distributed to the Major Moves Construction Fund at Discretion of the Trustee

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  6. Trust Distributions of Principal Prohibited; Income From Trust Investments Distributed to the Major Moves Construction Fund at Discretion of the Trustee

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Sec. 13. (a) The principal of the trust may not be distributed during the term of the trust.

(b) The income that accrues from the investment of the trust shall be deposited in the trust.

(c) On March 15 in years set forth in the investment policy adopted by the board, the treasurer of state shall transfer all income accruing to the trust to the major moves construction fund.

As added by P.L.217-2017, SEC.69.


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