Montana Code 20-25-103. Authority to accept gifts
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20-25-103. Authority to accept gifts. On behalf of the state, the regents may accept all gifts or grants of any kind for the use of any of the units of the university system. Gifts or grants subject to specific provisions shall be accepted and used subject to the terms of the gift or grant.
Terms Used In Montana Code 20-25-103
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Regents: means the board of regents of higher education. See Montana Code 20-1-101
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
- System: means the Montana university system. See Montana Code 20-1-101
- University: means the university of Montana-Missoula. See Montana Code 20-1-101