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2000 Florida Code
TITLE XVI EDUCATION
Chapter 240 Postsecondary Education  
PART IV SCHOLARSHIP AND FINANCIAL AID (ss. 240.40-240.4989)
240.484   Funds as trust funds.

1240.484  Funds as trust funds.--All moneys received by or on behalf of an authority pursuant to this act, whether as proceeds from the sale of obligations or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this act. Any officer with whom, or any bank or trust company with which, such moneys are deposited shall act as trustee of such moneys and shall hold and apply the same for the purposes of this act, subject to such regulations as this act and the bond resolution authorizing the issue of any obligations may provide.

History.--s. 15, ch. 82-241; s. 3(7), ch. 2000-321.

1Note.--Repealed January 7, 2003, by s. 3(7), ch. 2000-321, and shall be reviewed by the Legislature prior to that date.

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