25-01-11. State treasurer to have custody of income from granted lands

25-01-11. State treasurer to have custody of income from granted lands The state treasurer is custodian of all funds arising from the sale of any lands granted to any institution named in this chapter, and such funds must be deposited with the state treasurer. The state treasurer shall keep a separate account for each such institution to which a land grant has been made, and moneys in each such separate fund must be used exclusively for the benefit of the institution to which the same belongs.