What happens to older maintenance funds under new legislation?

• A. They automatically become funds under the new Act
• B. They are returned to donors
• C. They are frozen until audit
• D. They are transferred to general funds

Answer: (A)

Under the new legislation, older maintenance funds are automatically treated as funds under the new Act. This transitional provision is designed to preserve the purpose and governance of those funds, so they continue to be held for maintenance and managed under the rules of the updated regime. Donors’ intent is protected, and there’s no need to return funds, freeze them, or move them into general funds. The funds simply fall under the new Act’s framework, ensuring continuity and proper oversight.