N.C. Gen. Stat. § 116-36.2
Regulation of special funds of individual institutions
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
(1) Notwithstanding Chapter 143C or any provisions of law other than Article 5A of Chapter 147 of the General Statutes, the chancellor of each institution is responsible for the custody and management of the special funds of that institution. The Board shall adopt uniform policies and procedures applicable to the administration of these funds which shall assure that the receipt and expenditure of such funds is properly authorized and that the funds are appropriately accounted for. The special funds of individual institutions regulated by this section are appropriated and may be used only as authorized by this section.
(1) Notwithstanding Chapter 143C or any provisions of law other than Article 5A of Chapter 147 of the General Statutes, the chancellor of each institution is responsible for the custody and management of the special funds of that institution. The Board shall adopt uniform policies and procedures applicable to the administration of these funds which shall assure that the receipt and expenditure of such funds is properly authorized and that the funds are appropriately accounted for. The special funds of individual institutions regulated by this section are appropriated and may be used only as authorized by this section.
(2) As used in this section, "special funds of individual institutions" means: Moneys received from or for the operation by an institution of its program of intercollegiate athletics;
(2) As used in this section, “special funds of individual institutions” means: Moneys received from or for the operation by an institution of its program of intercollegiate athletics;
(3) Moneys held by an institution as fiscal agent for individual students, faculty, staff members, and organizations.
(3) Moneys held by an institution as fiscal agent for individual students, faculty, staff members, and organizations.
History
(1977, 2nd Sess., c. 1136, s. 31; 1983, c. 913, s. 19; 2006-203, s. 46.)
Effect of Amendments. - Session Laws 2006-203, s. 46, effective July 1, 2007, and applicable to the budget for the 2007-2009 biennium and each subsequent biennium thereafter, in subsection (a), added "Chapter 143C or" following "Notwithstanding", and added the last sentence.
Legal Periodicals. - For article, "Sidelining Big Business in Intercollegiate Athletics: How the NCAA Can De-Escalate the Arms Race by Implementing a Budgetary Allocation for Athletic Departments," see 39 N.C. Cent. L. Rev. 85 (2017).
§ 116-36.3: Repealed by Session Laws 1989 (Regular Session, 1990), c. 936, s. 1(b).
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.