§ 3821

Transfer; acceptance An incorporated academy, institute, seminary, or other educational institution, having no capital stock, by vote of at least two-thirds of its directors, trustees, or other governing body, may authorize the transfer of all of its real and personal property, including trust funds, to the school district in which the academy, institute, seminary, or other educational institution is located as provided in this chapter. The school district, at an annual or special meeting of the legal voters warned for the purpose, may vote to accept the transfer of real and personal property, including trust funds, as provided in this chapter to be used for school purposes. (Amended 2013, No. 92 (Adj. Sess.), § 227, eff. Feb. 14, 2014.)