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This entry was published on 2014-09-22
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SECTION 481-F
William B
Social Services (SOS) CHAPTER 55, ARTICLE 10-A
§ 481-f. William B. Hoyt Memorial children and family trust fund. 1.
There is hereby established in the joint custody of the comptroller and
the commissioner of taxation and finance a separate and distinct
account, to be known as the William B. Hoyt Memorial children and family
trust fund. Such account shall be classified by the comptroller as an
expendable trust. Such account shall consist of any moneys appropriated
to the department for the purposes of the programs authorized pursuant
to this article and funds from any other source, including but not
limited to, federal funds, donations from private individuals,
corporations or foundations, for the implementation of programs provided
for in this article. All funds received by the comptroller on behalf of
the William B. Hoyt Memorial children and family trust fund shall be
deposited by the comptroller to the credit of the William B. Hoyt
Memorial children and family trust fund. Notwithstanding the provisions
of this subdivision, funds granted to the department pursuant to the
federal child abuse prevention and treatment act shall not be deposited
to the credit of the William B. Hoyt Memorial children and family trust
fund.

2. Donations from private individuals, corporations, or foundations
deposited in the William B. Hoyt Memorial children and family trust
fund may be invested by the comptroller pursuant to the provisions of
section ninety-eight-a of the state finance law. Any income from such
investments shall be deposited to the credit of the William B. Hoyt
Memorial children and family trust fund.