Full text of Washington Revised Code of Washington § 28B.108.060 — Scholarship endowment fund., with citation guidance and answers to common questions.
§ 28B.108.060. Scholarship endowment fund.
The American Indian scholarship endowment fund is created in the custody of the state treasurer. Funds appropriated by the legislature for the endowment fund must be deposited into the fund.
(1) Moneys received from the office, private donations, state moneys, and funds received from any other source may be deposited into the endowment fund. Private moneys received as a gift subject to conditions may be deposited into the fund. The investment of private moneys in the fund shall be managed by the state investment board.
(2) At the request of the office, the state investment board shall release earnings from the private moneys invested by it to the state treasurer.
(3) When a condition attached to a gift of private moneys in the fund has failed, the office shall then release the moneys to the donors according to the terms of the conditional gift.
(4) The principal of the endowment fund shall not be invaded. The release of moneys under subsection (3) of this section shall not constitute an invasion of corpus.
(5) The earnings on the fund shall be used solely for the purposes set forth in RCW
28B.108.040, except when the terms of a conditional gift of private moneys in the fund require that a portion of earnings on such moneys be reinvested in the fund. An appropriation is not required for expenditures from the endowment fund.
Notes
Effective date—2012 c 187 ss 3 and 5: "Sections 3 and 5 of this act take effect July 1, 2012." [
2012 c 187 s 19.]
Expiration date—2012 c 187 ss 2 and 4: "Sections 2 and 4 of this act expire July 1, 2012." [
2012 c 187 s 18.]
Effective date—2011 1st sp.s. c 11 ss 101-103, 106-202, 204-244, and 301: See note following RCW
28B.76.020.
Intent—2011 1st sp.s. c 11: See note following RCW
28B.76.020.
Effective dates—1991 sp.s. c 13: See note following RCW
18.04.105.
Frequently Asked Questions About Washington § 28B.108.060
What does Revised Code of Washington § 28B.108.060 cover?
Section 28B.108.060 ("Scholarship endowment fund.") is part of the Revised Code of Washington, the codified statutory law of Washington. 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 Washington § 28B.108.060?
A common citation format is "Revised Code of Washington § 28B.108.060" (Washington). 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 Washington law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.
How does Washington § 28B.108.060 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Washington 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 Washington.
