The state treasurer shall identify and allocate to the general fund all earnings, including realized and unrealized gains and losses, from the investment of all accounts or funds in his custody unless the allocation of the earnings is:
A. otherwise provided by law;
B. prohibited by federal law creating the fund or the account or by specific court order; or
C. from the investment of a permanent fund and the use of the interest and income from the fund is restricted by constitutional or statutory provisions to particular purposes.
History: Laws 1989, ch. 324, § 41; 2001, ch. 182, § 1; 2002, ch. 57, § 1.
The 2002 amendment, effective May 15, 2002, substituted "is" for "and realized and unrealized gains and losses are" at the end of the introductory matter; and deleted "specifically" preceding "provided" in Subsection A.
The 2001 amendment, effective June 15, 2001, in the introductory language, substituted "allocate" for "credit" and "earnings on and realized and unrealized gains and losses from the investment of" for "interest on", and inserted "the allocation of the earnings and realized and unrealized gains and losses are"; deleted "the crediting of the interest is" from the beginning of Subsections A and B; and in Subsection C, deleted "the interest is" from the beginning of the subsection and deleted "that is impressed with a trust that prohibits expenditure of the corpus of the fund" following "permanent fund".
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