Washington Code 43.07.037 – Gifts, grants, conveyances — Receipt, sale — Rules
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The secretary of state and the *council may accept gifts, grants, conveyances, bequests, and devises, of real or personal property, or both, in trust or otherwise, and sell, lease, exchange, invest, or expend these donations or the proceeds, rents, profits, and income from the donations except as limited by the donor‘s terms. The secretary of state shall adopt rules to govern and protect the receipt and expenditure of the proceeds.
[ 1996 c 253 § 105.]
NOTES:
*Reviser’s note: 1996 c 253 § 101, which created the international education and exchange council, was vetoed.
Findings—Purpose—Severability—Part headings not law—1996 c 253: See notes following RCW 28B.109.010.
Terms Used In Washington Code 43.07.037
- Donor: The person who makes a gift.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Personal property: All property that is not real property.