NORTH CAROLINA GENERAL ASSEMBLY

1963 SESSION

 

 

CHAPTER 259

SENATE BILL 246

 

 

AN ACT RELATING TO THE INVESTMENT OF FUNDS BY THE BOARD OF CEMETERY COMMISSIONERS FOR THE CITY OF CONCORD.

 

The General Assembly of North Carolina do enact:

 

Section 1. Section 1 of Chapter 110 of the Private Laws of 1923 is hereby amended by striking out the quotation marks at the end of said Section and by adding the following sentence: "Notwithstanding any other provisions of this Section, the Board of Cemetery Commissioners for the City of Concord is hereby authorized to invest said trust funds in shares of stock of any building and loan or savings and loan association in Cabarrus County to the extent that such funds are insured by the Federal Savings and Loan Insurance Corporation."

Sec. 2. All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 3. This Act shall become effective upon its ratification.

In the General Assembly read three times and ratified, this the 23rd day of April, 1963.