ND HB1392

Creates two new sections to North Dakota Century Code chapter 15-10 authorizing deposits into the Bank of North Dakota by affiliated nonprofit organizations and student organizations associated with state higher education institutions.

Permits affiliated nonprofit organizations that support and benefit institutions under the state board of higher education to deposit money into institution accounts for purposes that benefit the institution's mission and objectives.

Allows student organizations recognized by state higher education institutions to deposit money into institution accounts for the benefit of students, student organizations, or charitable purposes.

Designates expenditures made under both provisions as public purposes that cannot be construed as gifts under article X, section 18 of the North Dakota Constitution.

Passed unanimously with House vote of 93-0 (1 absent) and Senate vote of 46-0 (1 absent).