Surplus Property Agency: Special Surplus Property Fund

1 CMC § 2590 — under Department of Finance.

1 CMC § 2590

TITLE 1: GOVERNMENT

DIVISION 2: EXECUTIVE BRANCH

§ 2590. Surplus Property Agency: Special Surplus Property Fund. (a) There is hereby established a fund to be known as the “Special Surplus Property Fund” to be maintained separate and apart from any other funds from the Commonwealth. Independent records and accounts shall be maintained in connection with this fund. (b) All appropriations made for the purpose of implementing this article shall be deposited within the special fund. All receipts from charges and fees assessed pursuant to 1 CMC § 2589 shall also be placed in the special fund. All debts, liabilities, obligations, and operating expenses incurred pursuant to this article shall be paid by the Director of Finance from the special fund. (c) The Director of Finance shall render to the Governor and to the legislature a quarterly statement reflecting the financial condition of the special fund and a financial statement of operations of the special fund for the period covered. Source: PL 2-3, § 13, modified. Commission Comment: With respect to the reference to the “Director of Finance,” see Executive Order 94-3 (effective August 23, 1994), reorganizing the executive branch, changing agency names and official titles, and effecting other changes, set forth in the Commission comment to 1 CMC § 2001; see also the comment to 1 CMC § 2551.