(1) The Michigan 4-H Foundation fund is created within the state treasury. The state treasurer may receive money or other assets from any source for deposit into the fund. The state treasurer shall direct the investment of the fund. The state treasurer shall credit to the fund interest and earnings from fund investments. Money in the fund at the close of the fiscal year must remain in the fund and must not lapse to the general fund. The state treasurer is the administrator of the fund for auditing purposes.

    (2) The state treasurer shall disburse money in the fund established under subsection (1) on a quarterly basis to the Michigan 4-H Foundation.