State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_143B > GS_143B-472_106

§ 143B‑472.106.  SmallBusiness Surety Bond Fund.

(a)        Creation and Use. –The Small Business Surety Bond Fund is created as a special revenue fund.Revenue in the Fund does not revert at the end of a fiscal year, and interestand other investment income earned by the Fund accrues to the Fund. TheAuthority shall use the Fund for the purposes of and to pay the expenses of theAuthority related to providing bonding assistance.

(b)        Content. – TheSmall Business Surety Bond Fund consists of all of the following revenue:

(1)        Funds appropriatedto the Fund by the State.

(2)        Premiums, fees, andany other amounts received by the Authority with respect to bonding assistanceprovided by the Authority.

(3)        Proceeds designatedby the Authority from the sale, lease, or other disposition of property orcontracts held or acquired by the Authority.

(4)        Investment income ofthe Fund.

(5)        Any other moneysmade available to the Fund. (2007‑441, s. 1.)