NORTH CAROLINA GENERAL ASSEMBLY

1963 SESSION

 

 

CHAPTER 243

SENATE BILL 118

 

 

AN ACT TO ENABLE TRUSTEES TO OBTAIN INTEREST UPON FUNDS AWAITING INVESTMENT.

 

The General Assembly of North Carolina do enact:

 

Section 1.  G.S. 36-27 as the same appears in Volume 2A of the General Statutes of North Carolina is hereby amended by inserting in line 5 following the word "Bank" and preceding the colon the following: "or in savings accounts in the bank or another bank".

Sec. 2.  G.S. 36-27 as the same appears in Volume 2A of the General Statutes is further amended by striking out the last sentence in said Section reading as follows: "Investment and/or invested shall not be construed to include savings accounts or certificates or deposits in any bank."

Sec. 3.  All laws and clauses of laws in conflict herewith are hereby repealed.

Sec. 4.  This Act shall be in full force and effect from and after its ratification.

In the General Assembly read three times and ratified, this the 19th day of April, 1963.