20-25-308 Prohibition on transfer to foundation

20-25-308 . Prohibition on transfer to foundation. In order to implement the provisions of Article VIII, section 12, of the Montana constitution, ownership of the following may not be transferred to a nonprofit corporation or foundation established for the benefit of a unit of the university system unless full market value is received for the transfer and laws applicable to the disposition of property are followed: (1) money in the higher education funds provided for in 17-2-102 ; (2) excess proceeds of money borrowed pursuant to 20-25-402 ; and (3) except as provided in 20-25-309 , real or personal property acquired with money listed in subsection (1) or proceeds listed in subsection (2).