¹240.363  Financial accounting and expenditures.--All funds accruing to a community college must be received, accounted for, and expended in accordance with rules of the State Board of Community Colleges. A direct-support organization shall have sole responsibility for the acts, debts, liabilities, and obligations of the organization. A community college shall have no responsibility for such acts, debts, liabilities, or obligations incurred or assumed by a direct-support organization solely by reason of certification. Each community college board of trustees may adopt policies that provide procedures for transferring to the direct-support organization of that community college for administration by such organization contributions made to the community college.

History.--s. 17, ch. 65-239; s. 16, ch. 68-5; s. 70, ch. 72-221; s. 60, ch. 79-222; s. 35, ch. 83-326; ss. 13, 31, ch. 89-381; s. 7, ch. 98-99; s. 3(7), ch. 2000-321.

¹Note.--Repealed January 7, 2003, by s. 3(7), ch. 2000-321, and shall be reviewed by the Legislature prior to that date.