NORTH CAROLINA GENERAL ASSEMBLY

1979 SESSION

 

 

CHAPTER 1125

HOUSE BILL 1664

 

 

AN ACT TO PROVIDE FOR THE DISTRIBUTION OF NET PROFITS FROM ABC STORES LOCATED IN THE VILLAGE OF PINEHURST.

 

The General Assembly of North Carolina enacts:

 

Section 1. Notwithstanding contrary provisions of any general, private, local or other law, after deducting the amount expended for law enforcement and the payment of all expenses of operating alcoholic beverage control stores in the Village of Pinehurst, including a pro rata part of general overhead expenses of the County Board of Alcoholic Control, the said Board shall pay twenty-five percent (25%) of the net profits of the alcoholic beverage stores located in the Village of Pinehurst, except for those profits accrued under the provisions of G.S. 18A-15(3)c.3, over to the general fund of the Village.

In addition, fifty percent (50%) of the net profits accrued under the provisions of G.S. 18A-15(3)c.3, from the sale of alcoholic beverages which are sold to permittees located in the Village of Pinehurst shall be paid by the County Board to the general fund of the Village of Pinehurst. The net profits mentioned herein shall be determined by quarterly audits and the proper percentages thereof shall be paid within the next quarter.

Sec. 2. This act shall become effective July 1, 1980.

In the General Assembly read three times and ratified, this the 19th day of June, 1980.