State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_135 > GS_135-12

§135‑12.  Obligation of maintaining reserves and paying benefits.

The maintenance of annuityreserves and pension reserves as provided for and regular interest creditableto the various funds as provided in G.S. 135‑8, and the payment of allpensions, annuities, retirement allowances, refunds and other benefits grantedunder the provisions of this Chapter, are hereby made obligations of thepension accumulation fund. All income, interest and dividends derived fromdeposits and investments authorized by this Chapter shall be used for thepayment of the said obligations of the said fund. (1941, c. 25, s. 12.)