Common use of Funds Collected and Received Clause in Contracts

Funds Collected and Received. All funds collected and received by NC-XXXX, together with the income therefrom, shall be held, retained, managed, and conserved in a capital fund or funds and administered, used, and applied by the President and CEO in consultation with the Executive Committee in accordance with the mission purposes described in Article I of these bylaws. The Executive Committee may accept revenues and properties which are qualified, limited, or restricted in their use so long as such qualifications, conditions, limitations and/or restrictions shall not conflict with the mission and purposes of NC-XXXX as described in Article I of these bylaws. Unless otherwise specifically required, such restricted revenues and/or property may be commingled with other funds of NC- XXXX.

Funds Collected and Received. All funds collected and received by NC-XXXX, together with the income therefrom, shall be held, retained, managed, and conserved in a capital fund or funds and administered, used, and applied by the President and CEO in consultation with the Executive Committee in accordance with the mission purposes described in Article I of these bylawsCommittee. The Executive Committee may accept revenues and properties which are qualified, limited, or restricted in their use so long as such qualifications, conditions, limitations and/or restrictions shall not conflict with the mission and purposes of NC-XXXX as described in Article I of these bylaws. Unless otherwise specifically required, such restricted revenues and/or property may be commingled with other funds of NC- NC-XXXX.