North Dakota § 15-03-02 - Proceeds from trust fund assets
Full text of North Dakota North Dakota Century Code § 15-03-02 — Proceeds from trust fund assets, with citation guidance and answers to common questions.
§ 15-03-02. Proceeds from trust fund assets
All proceeds from the sale and management of any assets under the control of the board of university and school lands must be deposited in the trust fund for which the assets were granted or earned and are pledged specifically for the maintenance of the institution for which such assets were granted or earned. The cost of administering a trust fund may be paid out of the fund, in accordance with section 1 of article IX of the Constitution of North Dakota.
Source: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 15-03-02
What does North Dakota Century Code § 15-03-02 cover?
Section 15-03-02 ("Proceeds from trust fund assets") is part of the North Dakota Century Code, the codified statutory law of North Dakota. 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 North Dakota § 15-03-02?
A common citation format is "North Dakota Century Code § 15-03-02" (North Dakota). 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 North Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Dakota official source linked on this page or consult a licensed North Dakota attorney.
How does North Dakota § 15-03-02 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Dakota 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 North Dakota.