State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_111 > GS_111-12_6

§ 111‑12.6. Disposition of funds deposited with or transferred to State Treasurer.

All funds required under this Article to be deposited with or whichhave been transferred to the State Treasurer by the Bureau of Employment of theDepartment of Health and Human Services, and all future net earnings andaccumulations of the Bureau or its successor, other than the one hundredthousand dollars ($100,000) reserve fund provided for in G.S. 111‑12.5,from whatever source shall be periodically, but not less frequently thanannually, paid over to and retained by the State Treasurer as a separate fundor account. The funds deposited with the State Treasurer shall be invested andthe income from the corpus shall inure to the sole benefit of the Department ofHealth and Human Services. The income and corpus shall be expended for servicesto and for the benefit of blind and visually impaired persons in North Carolinaupon recommendation of the Commission for the Blind, by and with the approvalof the Governor as the Director of the Budget. (1967, c. 1214; 1973, c. 476, s. 143; 1997‑443,s. 11A.118(a); 2000‑121, s. 10.)