15-10-69. Affiliated nonprofit organization funds

15-10-69. Affiliated nonprofit organization funds An affiliated nonprofit organization that provides support to and is organized and operated for the benefit of an institution under the control of the state board of higher education may deposit money into an institution account in the Bank of North Dakota for the purpose of benefiting the mission and objectives of the institution. An expenditure made under this section is deemed to be made for a public purpose and may not be construed as a gift for purposes of section 18 of article X of the Constitution of North Dakota.