§ 309. Land grants in the State of North Dakota

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 2009

   Omnibus Public Land Management Act of 2009

   Pub. L. 111–11 title XIII § 13001(b) · 123 Stat. 991

   Enacted · 7 U.S.C. § 309

   (July 2, 1862, ch. 130, § 9, as added Pub. L. 111–11, title XIII, § 13001(b), Mar. 30, 2009, 123 Stat. 1446.)

   Source evidence

   Code source credit
   (July 2, 1862, ch. 130, § 9, as added Pub. L. 111–11, title XIII, § 13001(b), Mar. 30, 2009, 123 Stat. 1446.)

   Enacted provision · exact public law section
   (b) Management and Distribution of Morrill Act Grants.— The Act of July 2, 1862 (commonly known as the “First Morrill Act”) (7 U.S.C. 301 et seq.), is amended by adding at the end the following: “SEC. 9. LAND GRANTS IN THE STATE OF NORTH DAKOTA. “(a) Expenses.— Notwithstanding section 3, the State of North Dakota shall manage the land granted to the State under the first section, including any proceeds from the land, in accordance with this section. “(b) Disposition of Proceeds.— Notwithstanding section 4, the State of North Dakota shall, with respect to any trust fund in which proceeds from the sale of land under this Act are deposited (referred to in this section as the ‘trust fund’)— “(1) deposit all revenues earned by a trust fund into the trust fund; “(2) deduct the costs of administering a trust fund from each trust fund; and “(3) manage each trust fund to— “(A) preserve the purchasing power of the trust fund; and “(B) maintain stable distributions to trust fund beneficiaries. “(c) Distributions.— Notwithstanding section 4, any distributions from trust funds in the State of North Dakota shall be made in accordance with section 2 of article IX of the Constitution of the State of North Dakota. “(d) Management.— Notwithstanding section 5, the State of North Dakota shall manage the land granted under the first section, including any proceeds from the land, in accordance with this section.” .

1 of 1 references resolved to an enrolled provision