NORTH CAROLINA GENERAL ASSEMBLY

1975 SESSION

 

 

CHAPTER 535

HOUSE BILL 753

 

 

AN ACT TO INCREASE THE INHERITANCE TAX EXEMPTION ACCORDED TO SERVICEMEN'S GROUP LIFE INSURANCE FROM TEN THOUSAND DOLLARS ($10,000) TO TWENTY THOUSAND DOLLARS ($20,000).

 

The General Assembly of North Carolina enacts:

 

Section 1.  Article 1 of Chapter 105 of the General Statutes is hereby amended by deleting the words and figures "ten thousand dollars ($10,000)" appearing in line 34 of G.S. 105-3(4) as the same appears in the 1972 Replacement Volume 2D, and inserting in lieu thereof the words and figures, "twenty thousand dollars ($20,000)".

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

In the General Assembly read three times and ratified, this the 10th day of June, 1975.