22-2-107: Gifts and donations.

The council may acquire, accept, receive, dispose of, and administer in the name of the council any gifts, donations, properties, securities, bequests, and legacies that may be made to it. Money received by donation, gift, bequest, or legacy, unless otherwise provided by the donor, must be deposited in the state special revenue fund of the state treasury and used for the general operation of the council. The council is the official agency of the state to receive and disburse any funds made available by the national endowment for the arts.