(a) An Armed Services Scholarship Fund is established to comprise appropriations made by the General Assembly. The Fund shall be managed pursuant to 32 V.S.A. chapter 7, subchapter 5, and shall be available to the Military Department for the Armed Services Scholarships established in section 2537 of this title.

(b) All balances in the Fund at the end of any fiscal year shall be carried forward and used only for the purposes set forth in this section. Earnings of the Fund that are not withdrawn pursuant to this section shall remain in the Fund. (Added 2003, No. 127 (Adj. Sess.), § 6; amended 2013, No. 50, § E.219.3.)