§18-2F-4 Nonprofit fund. - West Virginia Statutes

§18-2F-4. Nonprofit fund.

The share in your future commission shall identify a nonprofit corporation or other charitable organization which is suitable to collect, invest, hold, manage, and disburse scholarship funds under the provisions of this article. At an appropriate time, the commission may contract with said corporation or organization to provide scholarship grants under this article. The commission is empowered to publicize the program and to solicit donations, grants, bequests and gifts from any source. The state board may seek appropriations from the Legislature for the cost of operating this program and to match private scholarship funds.

The nonprofit corporation shall, under the terms of any contract entered into hereunder, make available to the commission on a yearly basis, the amount of money available to meet the requirements of the incentives-based share program and, upon request, shall transfer funds necessary for implementing the provisions of this article.