The Commissioners of the Land Office shall apportion the distribution accruing from the Permanent School Fund and the ad valorem taxes collected by the state from which proper reports have been received by the Superintendent of Public Instruction. All such monies remaining in the hands of the Commissioners of the Land Office and in the State Treasury at the close of each calendar month shall be apportioned and paid over to the schools within fifteen (15) days following the close of each such month.

R.L. 1910, § 7657; Amended by Laws 1917, HB 280, c. 244, § 1; Amended by Laws 1992, SB 741, c. 111, § 6, emerg. eff. April 21, 1992; Amended by Laws 1999, SB 60, c. 118, § 1, eff. April 26,1999 (superseded document available).