NORTH CAROLINA GENERAL ASSEMBLY

1967 SESSION

 

 

CHAPTER 800

HOUSE BILL 1062

 

 

AN ACT TO AUTHORIZE MUNICIPALITIES TO UTILIZE BLANKET FIDELITY BONDS AS AN ALTERNATIVE TO CERTAIN INDIVIDUAL FIDELITY BONDS.

 

The General Assembly of North Carolina do enact:

 

Section 1. The text of G.S. 160-277, as the same appears in Volume 3D, 1964 Replacement, of the General Statutes of North Carolina, is hereby designated "subsection (a)" and the Section is hereby amended by the addition of the following subsection:

"(b)      Cities and towns may adopt a system of blanket faithful performance or honesty bonding as an alternative to individual bonds. When such a system is adopted, statutory requirements of individual bonds, except as to treasurers or tax collectors by whatever title known, shall not apply to any officer or employee covered by the blanket bond."

Sec. 2.  This Act shall be controlling over all conflicting laws, whether general, local, or special.

Sec. 3.  All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 4.  This Act shall be effective from and after its ratification.

In the General Assembly read three times and ratified, this the 15th day of June, 1967.