20-9-601. Public school fund. The public school fund shall be maintained by the state treasurer as a fund in the nonexpendable trust fund type, and the principal amount of such fund shall be irreducible and permanent. The following moneys shall be credited to such fund as an addition to the irreducible and permanent principal amount:
     (1) appropriations and donations by the state;
     (2) donations and bequests by individuals to the state or schools;
     (3) the proceeds of land and other property which revert to the state by escheat and forfeiture;
     (4) the proceeds of all property granted to the state, when the purpose of the grant is not specified or is uncertain;
     (5) funds accumulated in the treasury of the state for the disbursement of which provision has not been made by law;
     (6) the proceeds of the sale of stone, materials, or other property from school lands other than those granted for specific purposes and all moneys other than rental recovered from persons trespassing on such lands;
     (7) the principal of all moneys arising from the sale of lands and other property which have been and may be hereafter granted to the state for the support of common schools;
     (8) the amount earmarked for deposit in this fund under the provisions of 20-9-341; and
     (9) such other moneys as may be provided by the legislature.

     History: En. 75-7301 by Sec. 356, Ch. 5, L. 1971; R.C.M. 1947, 75-7301; amd. Sec. 16, Ch. 281, L. 1983; amd. Sec. 4, Ch. 14, Sp. L. January 1992.