NORTH CAROLINA GENERAL ASSEMBLY

1971 SESSION

CHAPTER 925

HOUSE BILL 1244

AN ACT TO AMEND G.S. 54-147 RELATING TO OFFICERS OF MARKETING ASSOCIATIONS.

The General Assembly of North Carolina enacts:

Section 1.  G.S. 54-147 is hereby amended and rewritten to read as follows:

"§ 54-147.  Election of officers. — The directors shall elect a president, one or more vice presidents, a secretary and treasurer who need not be directors, and they may combine the offices of secretary and treasurer designating the combined office as secretary-treasurer. They shall elect from their number a chairman and vice-chairman unless the president and vice-presidents are members of the Board. The Board may elect or appoint such additional officers as are necessary and appropriate. The treasurer may be a bank or any depository, and as such shall not be considered an officer, but as a function of the board of directors. In such a case the secretary shall perform the usual accounting duties of the treasurer, excepting that the funds shall be deposited only as authorized by the board of directors."

Sec. 2.  This act shall become effective upon ratification.

In the General Assembly read three times and ratified, this the 19th day of July, 1971.