Section 19-7-207 - Wyoming National Guard Youth Challenge Program Endowment Account; Administration; Distributions; Purposes

19-7-207. Wyoming national guard youth challenge program endowment account; administration; distributions; purposes. (a) The Wyoming national guard youth challenge program endowment account is created. The state treasurer is authorized to accept cash gifts for the account. Funds within the account including all funds deposited to the account from any source are intended to be inviolate and constitute a permanent or perpetual trust fund. The state treasurer shall invest funds within the endowment account in accordance with law and in a manner to obtain the highest net return possible consistent with the preservation of the trust fund corpus. Fifty percent (50%) of investment earnings from funds in the endowment account shall be credited to the endowment account. Fifty percent (50%) of investment earnings shall be distributed in accordance with subsection (b) of this section. (b) The state treasurer shall semiannually distribute fifty percent (50%) of investment earnings from the Wyoming national guard youth challenge program endowment account to the Wyoming military department. Funds distributed under this subsection shall only be expended for the operation and facility needs of

ing national guard youth challenge program endowment account to the Wyoming military department. Funds distributed under this subsection shall only be expended for the operation and facility needs of the Wyoming national guard youth challenge program established under W.S. 19-9-701. Funds distributed under this subsection shall be expended pursuant to W.S. 19-9-702. (c) The Wyoming national guard youth challenge program endowment account created in subsection (a) of this section may be known as the 'Wyoming cowboy challenge academy endowment account.'