§ 43.330.195. Developmental disabilities endowment -- Definitions
The definitions in this section apply throughout RCW 43.330.200 through 43.330.230.
(1) "Developmental disability" has the meaning in RCW 71A.10.020(3).
(2) "Developmental disabilities endowment trust fund" means the fund established in the custody of the state treasurer in RCW 43.330.200, comprised of private, public, or private and public sources, to finance services for persons with developmental disabilities. All moneys in the fund, all property and rights purchased from the fund, and all income attributable to the fund, shall be held in trust by the state investment board, as provided in RCW 43.33A.030, for the exclusive benefit of fund beneficiaries. The principal and interest of the endowment fund must be maintained until such time as the governing board policy specifies except for the costs and expenses of the state treasurer and the state investment board otherwise provided for in chapter 120, Laws of 2000.
(3) "Governing board" means the developmental disabilities endowment governing board in RCW 43.330.205.
(4) "Individual trust account" means accounts established within the endowment trust fund for each individual named beneficiary for the benefit of whom contributions have been made to the fund. The money in each of the individual accounts is held in trust as provided for in subsection (2) of this section, and shall not be considered state funds or revenues of the state. The governing board serves as administrator, manager, and recordkeeper for the individual trust accounts for the benefit of the individual beneficiaries. The policies governing the disbursements, and the qualifying services for the trust accounts, shall be established by the governing board. Individual trust accounts are separate accounts within the developmental disabilities endowment trust fund, and are invested for the beneficiaries through the endowment trust fund.
[2000 c 120 § 2.]
Sections: Previous 43.330.152 43.330.155 43.330.156 43.330.165 43.330.167 43.330.170 43.330.190 43.330.195 43.330.200 43.330.205 43.330.210 43.330.220 43.330.225 43.330.230 43.330.240 NextLast modified: April 7, 2009