Section 40: Endowment Fund.

Martin Luther Christian University Act, 2005(Act No. 11 of 2005)State Act of Meghalaya · Act 11 of 2005

(1) The University shall establish an endowment fund of at least Rupees one crore.

(2) The University shall have power to invest the endowment fund in such manner as may be prescribed.

(3) The University may transfer any amount from the general fund or the development fund. Excepting in the dissolution of the University, in no other circumstances can any monies be transferred from the endowment fund for other purpose.

(4) Not exceeding 75 of the incomes received from the endowment fund shall be used for the purposes of development works of the University. The remaining 25shall be reinvested into the endowment fund

Where this provision sits

Act	Martin Luther Christian University Act, 2005(Act No. 11 of 2005)
Section	40
Marginal note	Endowment Fund.
Jurisdiction	State of Meghalaya
Status	In force as published by the source

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