Connecticut § 3-40 - Treasurer to have care and management.
Full text of Connecticut Connecticut General Statutes § 3-40 — Treasurer to have care and management., with citation guidance and answers to common questions.
§ 3-40. Treasurer to have care and management.
Sec. 3-40. Treasurer to have care and management. The Treasurer shall have the care and management of the School Fund and the Agricultural College Fund, loan and invest the principal thereof and have the care of the income from the same; but no loans from the School Fund shall be made outside of the state. He shall give a bond in the sum of one hundred thousand dollars, with surety to the state, conditioned for the faithful performance of his duties in the care and management of said funds, and shall report annually to the Governor, as provided by section 4-60, with such suggestions as he deems important.
(1949 Rev., S. 131; September, 1957, P.A. 11, S. 13.)
See Sec. 3-34 re Treasurer's authority to vote on bank stock owned by School Fund.
See Sec. 10a-115 re Agricultural College Fund.
See Sec. 12-178 re precedence of School or Agricultural College Fund mortgage over lien consisting of assessed taxes.
State acts in sovereign capacity and is not affected by discharge in bankruptcy. 47 C. 400. Priority of fund over municipal assessment; power of legislature. 81 C. 12.
Source: official Connecticut text · Last verified 2026-08-27
Frequently Asked Questions About Connecticut § 3-40
What does Connecticut General Statutes § 3-40 cover?
Section 3-40 ("Treasurer to have care and management.") is part of the Connecticut General Statutes, the codified statutory law of Connecticut. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Connecticut § 3-40?
A common citation format is "Connecticut General Statutes § 3-40" (Connecticut). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Connecticut law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Connecticut official source linked on this page or consult a licensed Connecticut attorney.
How does Connecticut § 3-40 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Connecticut can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Connecticut.