SENATE BILL NO. 33
AN ACT TO AMEND CHAPTER 1, TITLE 17, DELAWARE CODE RELATING TO TRUST FUNDS.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Amend Chapter 1, Title 17, Delaware Code by adding thereto a new Section 148 to read as follows:
"§148. Monies as Trust Funds
All monies received pursuant to this Title as proceeds from the sale, lease or rental of land with or without improvements, regardless of the source of funding for the original purchase of the aforesaid land or improvements, shall be deemed to be trust funds to be held and applied by the Department pursuant to this Title subject to other trust fund provisions contained within this Title. The trust fund established herein shall be utilized by the Department for purposes set forth in this Title. The trust fund established herein shall be utilized by the Department for the purposes set forth in this Title including the purchase, sale or lease of real property and the incidental costs, expenses and obligations related thereto. The Department shall establish rules and regulations for administration and management of the trust fund created herein, consistent with the intent and purpose of this Title."
Approved May 31, 1979