(1) The Director of Veterans’ Affairs, acting on behalf of the State of Oregon, is authorized to accept any donation, gift, grant, bequest or devise made in furtherance of the purposes of ORS 408.010 to 408.090, and if made in cash or its equivalent or reduced thereto, shall be promptly paid by the director to the State Treasurer, who shall credit the amount so received to the Veterans’ Educational Aid Account in the General Fund. The director shall make such disposition of donations, gifts, grants, bequests or devises, not made in cash or its equivalent, as is specified by the donor thereof, and their earnings and proceeds shall inure to said account. All such donations, gifts, grants, bequests or devises accepted by the director are transfers exempt from taxes imposed on inheritances under the laws of this state.
(2) All moneys in the Veterans’ Educational Aid Account are continuously appropriated to the director and may be used by the director for the purposes authorized in ORS 408.010 to 408.090. [Amended by 1961 c.326 §7; 1997 c.99 §53; 2005 c.755 §31]
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