BKA. Foundation Administration and Investment of Funds

All funds received by the South Plains College Foundation, Inc., (hereinafter referred to as “the Foundation”) for the benefit of the College shall be held, disbursed, and invested under the bylaws of the Foundation and any resolutions of its Board of Directors. All bequests of property to the Foundation shall vest title to said property in The Foundation.

Funds or other property donated to The Foundation, or the income there from, may be expended in any manner authorized by Article III, Section 6 of its bylaws. The authority to accept any gifts shall be vested solely with the Board of Directors of the Foundation and the Board of Regents of the College.

Revised: 3/10/05