Military Division Support Fund

TITLE 46 MILITIA AND MILITARY AFFAIRS CHAPTER 8 MISCELLANEOUS AND GENERAL PROVISIONS 46-806. military division support fund. (1)  There is hereby created in the state treasury the military division support fund. Moneys in the fund shall be invested as provided in section 67-1210 , Idaho Code, and interest earned on investment of idle moneys in the fund shall be credited to the fund. Moneys in the fund shall be continually appropriated. (2)  The adjutant general, or his designee, is hereby authorized to also accept by devise, gift or otherwise and hold as trustee, for the benefit and use of the military division or any part thereof, any property, real or personal. The adjutant general, or his designee, shall be empowered to collect, receive and recover the rents, incomes and issues from the property; and to sell, divest, exchange or transact such property at fair market value; and to otherwise expend fund assets as provided by the terms of the devise or gift, or if not so provided, to expend them for the benefit and use of the military division. (3)  The board of examiners shall have oversight of this fund. The adjutant general shall provide a public annual report, due on the first day of July each year, to the board of examiners disclosing the financial status of the fund, listing all new gifts, bequests, donations and contributions during the prior year as well as all sales or disposals of properties or assets from the fund and every disbursement or other use of the fund. (a)  The board of examiners shall approve all gifts of real property before acceptance by the adjutant general. (b)  The board of examiners shall approve all gifts valued at two hundred fifty thousand dollars ($250,000) or more before acceptance by the adjutant general. (c)  The adjutant general may, on his or her own initiative, request review and approval by the board of examiners for any other gift prior to acceptance. (4)  The adjutant general may assign military division employees to manage the operation of the fund; and the adjutant general shall request the office of the attorney general to prepare any legal documents required under the provisions of this section.