(1) The Gonzaga University alumni association account is created in the custody of the state treasurer. Upon the department's determination that the state has been reimbursed for the cost of implementing the Gonzaga University alumni association special license plate, all receipts, except as provided in RCW 46.16.313(17) (a) and (b), from Gonzaga University alumni association license plates must be deposited into the account. Only the director of the department of licensing or the director's designee may authorize expenditures from the account. The account is subject to allotment procedures under chapter 43.88 RCW, but an appropriation is not required for expenditures.

     (2) Funds in the account must be disbursed subject to the following conditions and limitations:

     (a) Pursuant to the requirements set out in RCW 46.16.765, the department must contract with a qualified nonprofit organization to provide scholarship funds to needy and qualified students attending or planning to attend Gonzaga University.

     (b) For the purposes of this section, a "qualified nonprofit organization" means a not-for-profit corporation incorporated and operating exclusively in Washington that has received a determination of tax exempt status under section 501(c)(3) of the federal internal revenue code. The organization must have been established for the express purpose of providing student scholarships to Gonzaga University.

     (c) The qualified nonprofit organization must meet all requirements set out in RCW 46.16.765.

[2005 c 85 § 4.]