(a) Fund Established. - There is established the Comprehensive Transition Postsecondary (CTP) Scholarship Fund to be used to fund scholarships awarded pursuant to this Article. All funds appropriated for the program, all returned scholarship monies, and all interest earned on these funds shall be placed in the Fund. Scholarship funds that are unexpended at the end of each fiscal year shall not revert to the General Fund but shall remain available for the award of scholarships under this Article.
(b) Administration of Fund. - The University of North Carolina System Office, in collaboration with the constituent institutions, shall administer the CTP Scholarship Fund.