7 U.S.C. · Agriculture
7 U.S.C. § 309

Land grants in the State of North Dakota

Ch. 13 — AGRICULTURAL AND MECHANICAL COLLEGES
Title 7 U.S.C. ● ACTIVE Primary Source Ch. 13
Statutory Text

7 U.S.C. § 309 — Land grants in the State of North Dakota

U.S.C. Title 7 - AGRICULTURE 7 U.S.C. United States Code, 2023 Edition Title 7 - AGRICULTURE CHAPTER 13 - AGRICULTURAL AND MECHANICAL COLLEGES SUBCHAPTER I - COLLEGE-AID LAND APPROPRIATION Sec. 309 - Land grants in the State of North Dakota From the U.S. Government Publishing Office, www.gpo.gov

§309. Land grants in the State of North Dakota

(a) Expenses Notwithstanding section 303 of this title, the State of North Dakota shall manage the land granted to the State under section 301 of this title, including any proceeds from the land, in accordance with this section. (b) Disposition of proceeds Notwithstanding section 304 of this title, the State of North Dakota shall, with respect to any trust fund in which proceeds from the sale of land under this subchapter are deposited (referred to in this section as the "trust fund")— (1) deposit all revenues earned by a trust fund into the trust fund; (2) deduct the costs of administering a trust fund from each trust fund; and (3) manage each trust fund to— (A) preserve the purchasing power of the trust fund; and (B) maintain stable distributions to trust fund beneficiaries. (c) Distributions Notwithstanding section 304 of this title, any distributions from trust funds in the State of North Dakota shall be made in accordance with section 2 of article IX of the Constitution of the State of North Dakota. (d) Management Notwithstanding section 305 of this title, the State of North Dakota shall manage the land granted under section 301 of this title, including any proceeds from the land, in accordance with this section.

(July 2, 1862, ch. 130, §9, as added Pub. L. 111–11, title XIII, §13001(b), Mar. 30, 2009, 123 Stat. 1446.)

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7 U.S.C. § 309
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The statutory text of 7 U.S.C. § 309 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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