NORTH CAROLINA GENERAL ASSEMBLY
1971 SESSION

CHAPTER 886
HOUSE BILL 1118

AN ACT TO AMEND G.S. 54-41.1 RELATING TO REQUIRED RESERVES FOR LOSSES; PROFITS NOT OTHERWISE APPORTIONED.

The General Assembly of North Carolina do enact:

Section 1. G.S. 54-41.1 is hereby amended by striking out the words and numbers "ten per cent (10%)" in line 8 of such section and substituting in lieu thereof the words and numbers "five per cent (5%)".
Sec. 2. G.S. 54-41.1 is hereby amended by striking out the words and numbers "ten per cent (10%)" as same appear in line 13 of such section and substituting in lieu thereof the words and numbers "five per cent (5%)".
Sec. 3. This act shall be in full force and effect upon its ratification.
In the General Assembly read three times and ratified, this the 16th day of July, 1971.