Wildlife and Natural Resource Trust Account Board

General Agency, Board or Commission Rules

Chapter 9: Gifts, Transfers, Bequests and Donations

Effective Date: 03/31/2007 to Current

Rule Type: Current Rules & Regulations

Reference Number: 039.0001.9.03312007

GIFTS, TRANSFERS, BEQUESTS AND DONATIONS

Section 1. Criteria for Acceptance or Rejection of Gifts, Transfers, Bequests and Donations Including Interests in Real Property.

The Board may accept or reject any gift, grant, transfer, bequest, royalty or donation at its sole discretion except that the Board shall not accept any fee simple interest in real property but shall make recommendations to the Board of Land Commissioners regarding acceptance of any such interest.

Section 2. Criteria for Acceptance or Rejection of Gifts, Transfers, Bequests, and Donations Including Water Rights.

No water right shall be accepted by the Board unless the right is attached to real property accepted under the terms of Chapter 9, Section 1 of these Rules.

Section 3. Transfer of Funds from Private Interests.

Any gift, grant, transfer, bequest, royalty or donation shall be subject to the instrument transferring such interest. Any funds transferred to the Board for particular purposes shall be placed in segregated sub-accounts and shall be distributed in accordance with the terms of the transferring instrument.