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N.C. Gen. Stat. § 161-50.2

Assets

Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
(1) On and after October 1, 1987, each County Commission shall remit monthly to the Department of State Treasurer an amount equal to one and one-half percent (1.5%) of the monthly receipts collected pursuant to Article 1 of Chapter 161 of the General Statutes, to be deposited to the credit of the Registers of Deeds’ Supplemental Pension Fund, hereinafter referred to as the Fund, to be used in making monthly pension payments to eligible retired registers of deeds under the provisions of this Article and to pay the cost of administering the provisions of this Article.
(1) On and after October 1, 1987, each County Commission shall remit monthly to the Department of State Treasurer an amount equal to one and one-half percent (1.5%) of the monthly receipts collected pursuant to Article 1 of Chapter 161 of the General Statutes, to be deposited to the credit of the Registers of Deeds’ Supplemental Pension Fund, hereinafter referred to as the Fund, to be used in making monthly pension payments to eligible retired registers of deeds under the provisions of this Article and to pay the cost of administering the provisions of this Article. A County Commission’s submission of these amounts to the Department of State Treasurer constitutes a certification of the accuracy of these amounts.
(2) The State Treasurer shall be the custodian of the Registers of Deeds' Supplemental Pension Fund and shall invest its assets in accordance with the provisions of G.S. 147-69.2 and G.S. 147-69.3.
(2) The State Treasurer shall be the custodian of the Registers of Deeds’ Supplemental Pension Fund and shall invest its assets in accordance with the provisions of G.S. 147-69.2 and G.S. 147-69.3.
History
(1987, c. 792, s. 1; 2007-245, s. 1.)
Effect of Amendments. - Session Laws 2007-245, s. 1, effective July 1, 2007, substituted "one and one-half percent (1.5%)" for "four and one half percent (4.5%)" near the beginning of subsection (a).

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.