F- - Act respecting university foundations

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17. The foundation must, within 60 days of the end of its fiscal year, remit to the educational institution all the property received during the fiscal year or acquired by the foundation to replace such property and that is not needed for the exercise of the foundation’s functions, together with all unused fruits and revenues deriving from the property received.
However, the educational institution may waive its right to receive the property and require the foundation to administer the property for such length of time as the institution determines.
1996, c. 48, s. 17.