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2012 Wyoming Statutes
TITLE 9 - ADMINISTRATION OF THE GOVERNMENT
CHAPTER 2 - AGENCIES, BOARDS, COMMISSIONS AND DEPARTMENTS GENERALLY
9-2-910. Spending restrictions; return of endowment.


WY Stat § 9-2-910 (through 2012) What's This?

(a) A qualifying organization, once it has received its endowment monies from the state account, may not expend any of those monies or the required matching monies in its endowment fund, but may expend only the interest income earned on the monies in its endowment fund.

(b) If the department determines that a qualifying organization has expended any amount of the endowment monies received from the state account or any amount of the required matching monies, the qualifying organization shall return the amount it received from the state account. The department in consultation with the board shall reallocate any such returned monies to qualifying organizations in the manner as provided in W.S. 9-2-909.

(c) Upon dissolution of the qualifying organization, the unexpended principal in the endowment fund of the qualifying organization provided from the state account shall revert to the state account.

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