NORTH CAROLINA GENERAL ASSEMBLY

1961 SESSION

 

 

CHAPTER 378

SENATE BILL 165

 

 

AN ACT TO AMEND G.S. 58‑79 TO PERMIT INVESTMENTS BY DOMESTIC LIFE INSURANCE COMPANIES IN PUBLIC AND PRIVATE HOUSING DEVELOPMENTS.

 

The General Assembly of North Carolina do enact:

 

Section 1.  Paragraph (a) of G.S. 58‑79, as the same appears in the 1960 Replacement Volume 2B, is amended by renumbering the present sub‑paragraph (11)e3 as sub‑paragraph (11)e4 and by adding a new sub‑paragraph (11)e3 reading as follows:

"3.        Subject to the approval of the Commissioner, real estate for public or private housing developments. Such investment under this sub‑paragraph (a)(11)e3 shall be subject to and not exceed the limitation provided for in the last sentence of sub‑paragraph (a)(11)e1III hereof."

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  All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 3.  This Act shall be in full force and effect on and after its ratification.

In the General Assembly read three times and ratified, this the 9th day of May, 1961.