Malnad Area Development Board Act, 1991 Section 18 - Bare Act

(1) There shall be a fund called the Board Fund.

(2) The following shall form part of, or be paid into, the Board fund, namely:--

(i) all grants, subventions, donations and gifts made by the Central Government, State Government, any local authority, any body whether incorporated or not or any persons;

(ii) the amount borrowed by the Board; and

(iii) all other sums received by or on behalf of the Board from any source whatsoever.

(3) Except as otherwise directed by the State Government all money credited to the fund shall be invested in any Scheduled Bank.