State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_135 > GS_135-18_5

§135‑18.5.  Provision for emergency expenses of integration of System.

For the purpose of meeting theexpenses involved in administering the provisions of this Article to June 30,1959, and in holding the referendum described herein with respect to positionscovered under the Teachers' and State Employees' Retirement System of NorthCarolina as established by Article 1 of Chapter 135 of the General Statutes,Volume 17, as amended, any funds not otherwise provided for such purpose byaction of the General Assembly during the session of 1955 or 1957 may beborrowed from the pension accumulation fund of such System; provided, however,that the amount so borrowed and the expenditure thereof shall be subject to theapproval of the Board of Trustees of such System and the assistant director ofthe budget, and that such amounts so borrowed shall be repaid as soon aspracticable. (1955, c. 1155, s. 9; 1957, c. 855, s. 9.)