(a) Creation. TheNorth Carolina Small Business Contractor Authority is created within theDepartment of Commerce.
(b) Membership. TheAuthority consists of 11 members appointed as follows:
(1) Four members appointedby the General Assembly upon the recommendation of the President Pro Tempore ofthe Senate, one of whom has experience in underwriting surety bonds.
(2) Four membersappointed by the General Assembly upon the recommendation of the Speaker of theHouse of Representatives, one of whom is a present or former governmentalemployee with experience in administering public contracts.
(3) Three membersappointed by the Governor, one of whom is a licensed general contractor and oneof whom is experienced in working for private, nonprofit, small, orunderutilized businesses.
(c) Terms. Membersserve four‑year terms, except initial appointments. There is noprohibition against reappointment for subsequent terms. Initial appointmentsshall begin on January 1, 2008. Each appointing authority shall designate twoof its initial appointments to serve four‑year terms and the remainder ofits initial appointments to serve three‑year terms.
(d) Chair. The chairshall be elected annually by the members of the Authority from the membershipof the Authority and shall be a voting member.
(e) Compensation. TheAuthority members shall receive no salary as a result of serving on theAuthority but are entitled to per diem and allowances in accordance with G.S.138‑5.
(f) Meetings. TheSecretary shall convene the first meeting of the Authority within 60 days afterJanuary 1, 2008. Meetings shall be held as necessary as determined by theAuthority.
(g) Quorum. Amajority of the members of the Authority constitutes a quorum for thetransaction of business. A vacancy in the membership of the Authority does notimpair the right of the quorum to exercise all rights and to perform all dutiesof the Authority.
(h) Vacancies. Avacancy on the Authority resulting from the resignation of a member orotherwise is filled in the same manner in which the original appointment wasmade, for the balance of the unexpired term. Vacancies in appointments made bythe General Assembly shall be filled in accordance with G.S. 120‑122.
(i) Removal. Membersmay be removed in accordance with G.S. 143B‑13. A member who misses threeconsecutive meetings of the Authority may be removed for nonfeasance.
(j) Powers and Duties. The Authority has the following powers and duties:
(1) To accept grants,loans, contributions, and services.
(2) To employ staff,procure supplies, services, and property, and enter into contracts, leases, orother legal agreements, including the procurement of reinsurance, to carry outthe purposes of the Authority.
(3) To acquire, manage,operate, dispose of, or otherwise deal with property, take assignments ofrentals and leases, and enter into contracts, leases, agreements, andarrangements that are necessary or incidental to the performance of the dutiesof the Authority, upon terms and conditions that it considers appropriate.
(4) To specify the formand content of applications, guaranty agreements, or agreements necessary tofulfill the purposes of this Part.
(5) To acquire or takeassignments of documents executed, obtained, or delivered in connection withassistance provided by the Authority under this Part.
(6) To fix, determine,charge, and collect any premiums, fees, charges, costs, and expenses inconnection with any assistance provided by the Authority under this Part.
(7) To adopt rules, inaccordance with Chapter 150B of the General Statutes, to implement this Part.
(8) To take any otheraction necessary to carry out its purposes.
(9) To report quarterlyto the Joint Legislative Commission on Governmental Operations on theactivities of the Authority, including the amount of rates, sureties, andbonds.
(k) Limitations. Notwithstandingany other provision of this Part, the Authority may not provide financialassistance that constitutes raising money on the credit of the State orpledging the faith and credit or the taxing power of the State directly orindirectly for the payment of any debt. Before providing financial assistanceto an applicant under this Part, the Authority must obtain the writtencertification of the Attorney General that the proposed financial assistancedoes not constitute raising money on the credit of the State or pledging thefaith of the State directly or indirectly for the payment of any debt asprovided in Section 3(2) of Article V of the North Carolina Constitution. (2007‑441, s. 1.)
(a) Creation. TheNorth Carolina Small Business Contractor Authority is created within theDepartment of Commerce.
(b) Membership. TheAuthority consists of 11 members appointed as follows:
(1) Four members appointedby the General Assembly upon the recommendation of the President Pro Tempore ofthe Senate, one of whom has experience in underwriting surety bonds.
(2) Four membersappointed by the General Assembly upon the recommendation of the Speaker of theHouse of Representatives, one of whom is a present or former governmentalemployee with experience in administering public contracts.
(3) Three membersappointed by the Governor, one of whom is a licensed general contractor and oneof whom is experienced in working for private, nonprofit, small, orunderutilized businesses.
(c) Terms. Membersserve four‑year terms, except initial appointments. There is noprohibition against reappointment for subsequent terms. Initial appointmentsshall begin on January 1, 2008. Each appointing authority shall designate twoof its initial appointments to serve four‑year terms and the remainder ofits initial appointments to serve three‑year terms.
(d) Chair. The chairshall be elected annually by the members of the Authority from the membershipof the Authority and shall be a voting member.
(e) Compensation. TheAuthority members shall receive no salary as a result of serving on theAuthority but are entitled to per diem and allowances in accordance with G.S.138‑5.
(f) Meetings. TheSecretary shall convene the first meeting of the Authority within 60 days afterJanuary 1, 2008. Meetings shall be held as necessary as determined by theAuthority.
(g) Quorum. Amajority of the members of the Authority constitutes a quorum for thetransaction of business. A vacancy in the membership of the Authority does notimpair the right of the quorum to exercise all rights and to perform all dutiesof the Authority.
(h) Vacancies. Avacancy on the Authority resulting from the resignation of a member orotherwise is filled in the same manner in which the original appointment wasmade, for the balance of the unexpired term. Vacancies in appointments made bythe General Assembly shall be filled in accordance with G.S. 120‑122.
(i) Removal. Membersmay be removed in accordance with G.S. 143B‑13. A member who misses threeconsecutive meetings of the Authority may be removed for nonfeasance.
(j) Powers and Duties. The Authority has the following powers and duties:
(1) To accept grants,loans, contributions, and services.
(2) To employ staff,procure supplies, services, and property, and enter into contracts, leases, orother legal agreements, including the procurement of reinsurance, to carry outthe purposes of the Authority.
(3) To acquire, manage,operate, dispose of, or otherwise deal with property, take assignments ofrentals and leases, and enter into contracts, leases, agreements, andarrangements that are necessary or incidental to the performance of the dutiesof the Authority, upon terms and conditions that it considers appropriate.
(4) To specify the formand content of applications, guaranty agreements, or agreements necessary tofulfill the purposes of this Part.
(5) To acquire or takeassignments of documents executed, obtained, or delivered in connection withassistance provided by the Authority under this Part.
(6) To fix, determine,charge, and collect any premiums, fees, charges, costs, and expenses inconnection with any assistance provided by the Authority under this Part.
(7) To adopt rules, inaccordance with Chapter 150B of the General Statutes, to implement this Part.
(8) To take any otheraction necessary to carry out its purposes.
(9) To report quarterlyto the Joint Legislative Commission on Governmental Operations on theactivities of the Authority, including the amount of rates, sureties, andbonds.
(k) Limitations. Notwithstandingany other provision of this Part, the Authority may not provide financialassistance that constitutes raising money on the credit of the State orpledging the faith and credit or the taxing power of the State directly orindirectly for the payment of any debt. Before providing financial assistanceto an applicant under this Part, the Authority must obtain the writtencertification of the Attorney General that the proposed financial assistancedoes not constitute raising money on the credit of the State or pledging thefaith of the State directly or indirectly for the payment of any debt asprovided in Section 3(2) of Article V of the North Carolina Constitution. (2007‑441, s. 1.)
(a) Creation. TheNorth Carolina Small Business Contractor Authority is created within theDepartment of Commerce.
(b) Membership. TheAuthority consists of 11 members appointed as follows:
(1) Four members appointedby the General Assembly upon the recommendation of the President Pro Tempore ofthe Senate, one of whom has experience in underwriting surety bonds.
(2) Four membersappointed by the General Assembly upon the recommendation of the Speaker of theHouse of Representatives, one of whom is a present or former governmentalemployee with experience in administering public contracts.
(3) Three membersappointed by the Governor, one of whom is a licensed general contractor and oneof whom is experienced in working for private, nonprofit, small, orunderutilized businesses.
(c) Terms. Membersserve four‑year terms, except initial appointments. There is noprohibition against reappointment for subsequent terms. Initial appointmentsshall begin on January 1, 2008. Each appointing authority shall designate twoof its initial appointments to serve four‑year terms and the remainder ofits initial appointments to serve three‑year terms.
(d) Chair. The chairshall be elected annually by the members of the Authority from the membershipof the Authority and shall be a voting member.
(e) Compensation. TheAuthority members shall receive no salary as a result of serving on theAuthority but are entitled to per diem and allowances in accordance with G.S.138‑5.
(f) Meetings. TheSecretary shall convene the first meeting of the Authority within 60 days afterJanuary 1, 2008. Meetings shall be held as necessary as determined by theAuthority.
(g) Quorum. Amajority of the members of the Authority constitutes a quorum for thetransaction of business. A vacancy in the membership of the Authority does notimpair the right of the quorum to exercise all rights and to perform all dutiesof the Authority.
(h) Vacancies. Avacancy on the Authority resulting from the resignation of a member orotherwise is filled in the same manner in which the original appointment wasmade, for the balance of the unexpired term. Vacancies in appointments made bythe General Assembly shall be filled in accordance with G.S. 120‑122.
(i) Removal. Membersmay be removed in accordance with G.S. 143B‑13. A member who misses threeconsecutive meetings of the Authority may be removed for nonfeasance.
(j) Powers and Duties. The Authority has the following powers and duties:
(1) To accept grants,loans, contributions, and services.
(2) To employ staff,procure supplies, services, and property, and enter into contracts, leases, orother legal agreements, including the procurement of reinsurance, to carry outthe purposes of the Authority.
(3) To acquire, manage,operate, dispose of, or otherwise deal with property, take assignments ofrentals and leases, and enter into contracts, leases, agreements, andarrangements that are necessary or incidental to the performance of the dutiesof the Authority, upon terms and conditions that it considers appropriate.
(4) To specify the formand content of applications, guaranty agreements, or agreements necessary tofulfill the purposes of this Part.
(5) To acquire or takeassignments of documents executed, obtained, or delivered in connection withassistance provided by the Authority under this Part.
(6) To fix, determine,charge, and collect any premiums, fees, charges, costs, and expenses inconnection with any assistance provided by the Authority under this Part.
(7) To adopt rules, inaccordance with Chapter 150B of the General Statutes, to implement this Part.
(8) To take any otheraction necessary to carry out its purposes.
(9) To report quarterlyto the Joint Legislative Commission on Governmental Operations on theactivities of the Authority, including the amount of rates, sureties, andbonds.
(k) Limitations. Notwithstandingany other provision of this Part, the Authority may not provide financialassistance that constitutes raising money on the credit of the State orpledging the faith and credit or the taxing power of the State directly orindirectly for the payment of any debt. Before providing financial assistanceto an applicant under this Part, the Authority must obtain the writtencertification of the Attorney General that the proposed financial assistancedoes not constitute raising money on the credit of the State or pledging thefaith of the State directly or indirectly for the payment of any debt asprovided in Section 3(2) of Article V of the North Carolina Constitution. (2007‑441, s. 1.)
