(a) Federal grants and appropriations paid to the commissioner of revenue under AS 14.40.380, 14.40.410, or 14.40.430, or from a source described in AS 14.40.450, shall be transferred to the state treasury under AS 37.10.060. The Department of Administration, upon requisitions by the Board of Regents signed by its president and secretary, shall pay to the treasurer of the Board of Regents all federal land grant college funds coming into the possession of the Department of Administration and subject to requisition by the Board of Regents and shall disburse federal funds in aid of land grant colleges in accordance with the federal statute providing for disbursement.
(b) [Repealed, § 10 ch 46 SLA 1977.] (c) [Repealed, § 1 ch 38 SLA 1968.]