{"identifier":"/us/usc/t7/s309","title_num":"7","num":"§ 309.","heading":"Land grants in the State of North Dakota","status":null,"guid":"idfd5abd88-4154-11e7-afbe-9bf2dd35758d","source_credit":"(July 2, 1862, ch. 130, § 9, as added Pub. L. 111–11, title XIII, § 13001(b), Mar. 30, 2009, 123 Stat. 1446.)","seq_in_title":328,"parent_identifier":"/us/usc/t7/ch13/schI","ancestors":[{"identifier":"/us/usc/t7","level":"title","num":"Title 7—","heading":"AGRICULTURE","status":null,"is_section":false},{"identifier":"/us/usc/t7/ch13","level":"chapter","num":"CHAPTER 13—","heading":"AGRICULTURAL AND MECHANICAL COLLEGES","status":null,"is_section":false},{"identifier":"/us/usc/t7/ch13/schI","level":"subchapter","num":"SUBCHAPTER I—","heading":"COLLEGE-AID LAND APPROPRIATION","status":null,"is_section":false}],"xml":"<section xmlns=\"http://xml.house.gov/schemas/uslm/1.0\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\" xmlns:dc=\"http://purl.org/dc/elements/1.1/\" xmlns:dcterms=\"http://purl.org/dc/terms/\" style=\"-uslm-lc:I80\" id=\"id69bf5ac7-ec38-11e5-ab42-dae4a1e80e35\" identifier=\"/us/usc/t7/s309\"><num value=\"309\">§ 309.</num><heading> Land grants in the State of North Dakota</heading><subsection style=\"-uslm-lc:I19\" class=\"indent2 firstIndent-2\" id=\"id69bf5ac8-ec38-11e5-ab42-dae4a1e80e35\" identifier=\"/us/usc/t7/s309/a\"><num value=\"a\" class=\"bold\">(a)</num><heading class=\"bold\"> Expenses</heading><content><p style=\"-uslm-lc:I11\" class=\"indent0\">Notwithstanding <ref href=\"/us/usc/t7/s303\">section 303 of this title</ref>, the State of North Dakota shall manage the land granted to the State under <ref href=\"/us/usc/t7/s301\">section 301 of this title</ref>, including any proceeds from the land, in accordance with this section.</p>\n</content>\n</subsection>\n<subsection style=\"-uslm-lc:I19\" class=\"indent2 firstIndent-2\" id=\"id69bf5ac9-ec38-11e5-ab42-dae4a1e80e35\" identifier=\"/us/usc/t7/s309/b\"><num value=\"b\" class=\"bold\">(b)</num><heading class=\"bold\"> Disposition of proceeds</heading><chapeau>Notwithstanding <ref href=\"/us/usc/t7/s304\">section 304 of this title</ref>, the State of North Dakota shall, with respect to any trust fund in which proceeds from the sale of land under this subchapter are deposited (referred to in this section as the “trust fund”)—</chapeau><paragraph style=\"-uslm-lc:I12\" class=\"indent1\" id=\"id69bf5aca-ec38-11e5-ab42-dae4a1e80e35\" identifier=\"/us/usc/t7/s309/b/1\"><num value=\"1\">(1)</num><content> deposit all revenues earned by a trust fund into the trust fund;</content>\n</paragraph>\n<paragraph style=\"-uslm-lc:I12\" class=\"indent1\" id=\"id69bf5acb-ec38-11e5-ab42-dae4a1e80e35\" identifier=\"/us/usc/t7/s309/b/2\"><num value=\"2\">(2)</num><content> deduct the costs of administering a trust fund from each trust fund; and</content>\n</paragraph>\n<paragraph style=\"-uslm-lc:I12\" class=\"indent1\" id=\"id69bf5acc-ec38-11e5-ab42-dae4a1e80e35\" identifier=\"/us/usc/t7/s309/b/3\"><num value=\"3\">(3)</num><chapeau> manage each trust fund to—</chapeau><subparagraph style=\"-uslm-lc:I13\" class=\"indent2\" id=\"id69bf5acd-ec38-11e5-ab42-dae4a1e80e35\" identifier=\"/us/usc/t7/s309/b/3/A\"><num value=\"A\">(A)</num><content> preserve the purchasing power of the trust fund; and</content>\n</subparagraph>\n<subparagraph style=\"-uslm-lc:I13\" class=\"indent2\" id=\"id69bf5ace-ec38-11e5-ab42-dae4a1e80e35\" identifier=\"/us/usc/t7/s309/b/3/B\"><num value=\"B\">(B)</num><content> maintain stable distributions to trust fund beneficiaries.</content>\n</subparagraph>\n</paragraph>\n</subsection>\n<subsection style=\"-uslm-lc:I19\" class=\"indent2 firstIndent-2\" id=\"id69bf5acf-ec38-11e5-ab42-dae4a1e80e35\" identifier=\"/us/usc/t7/s309/c\"><num value=\"c\" class=\"bold\">(c)</num><heading class=\"bold\"> Distributions</heading><content><p style=\"-uslm-lc:I11\" class=\"indent0\">Notwithstanding <ref href=\"/us/usc/t7/s304\">section 304 of this title</ref>, 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.</p>\n</content>\n</subsection>\n<subsection style=\"-uslm-lc:I19\" class=\"indent2 firstIndent-2\" id=\"id69bf5ad0-ec38-11e5-ab42-dae4a1e80e35\" identifier=\"/us/usc/t7/s309/d\"><num value=\"d\" class=\"bold\">(d)</num><heading class=\"bold\"> Management</heading><content><p style=\"-uslm-lc:I11\" class=\"indent0\">Notwithstanding <ref href=\"/us/usc/t7/s305\">section 305 of this title</ref>, the State of North Dakota shall manage the land granted under <ref href=\"/us/usc/t7/s301\">section 301 of this title</ref>, including any proceeds from the land, in accordance with this section.</p>\n</content>\n</subsection>\n<sourceCredit id=\"id69bf5ad1-ec38-11e5-ab42-dae4a1e80e35\">(<ref href=\"/us/act/1862-07-02/ch130\">July 2, 1862, ch. 130</ref>, § 9, as added <ref href=\"/us/pl/111/11/tXIII\">Pub. L. 111–11, title XIII</ref>, § 13001(b), <date date=\"2009-03-30\">Mar. 30, 2009</date>, <ref href=\"/us/stat/123/1446\">123 Stat. 1446</ref>.)</sourceCredit>\n</section>","provision":null,"duplicates":[],"release":{"label":"115-35","currency_date":"2017-05-17","congress":115,"law_num":35,"excluded_laws":[],"update_num":null,"seq":99,"is_partial":false,"caveat":null,"titles_affected":["01","02","05","05a","06","07","08","10","12","15","16","19","20","21","22","23","26","28","30","31","33","36","38","40","41","42","43","48","49","50","51","54"],"ingested_titles":[]},"served_from":{"label":"115-35","currency_date":"2017-05-17","congress":115,"law_num":35,"excluded_laws":[],"update_num":null,"seq":99,"is_partial":false,"caveat":null,"titles_affected":["01","02","05","05a","06","07","08","10","12","15","16","19","20","21","22","23","26","28","30","31","33","36","38","40","41","42","43","48","49","50","51","54"],"ingested_titles":[]},"content_first_seen":{"label":"114-115","currency_date":"2015-12-28","congress":114,"law_num":115,"excluded_laws":[],"update_num":null,"seq":62,"is_partial":false,"caveat":null,"titles_affected":["02","07","08","10","15","20","21","23","25","26","29","31","40","42","47","49","50"],"ingested_titles":[]},"is_exact":true,"note":null}