NORTH CAROLINA GENERAL ASSEMBLY
1963 SESSION

CHAPTER 88
SENATE BILL 124

AN ACT TO AMEND CHAPTER 881 OF THE SESSION LAWS OF 1955 RELATING TO THE INVESTMENT OF CERTAIN FUNDS BY THE CLERK OF THE SUPERIOR COURT OF ROBESON COUNTY.

The General Assembly of North Carolina do enact:

Section 1. Section 2 of Chapter 881 of the Session Laws of 1955 is hereby amended by rewriting said Section to read as follows:
"Sec. 2. The Clerk of Superior Court of the County of Robeson is hereby authorized and empowered, in his discretion and with the approval of the board of commissioners of said county, to invest or reinvest any moneys representing unclaimed court costs, fees received, and judgment payments and all moneys received and held by him by color of his office, excepting amounts held by him in specific trust or fiduciary accounts, in United States Treasury certificates of indebtedness, notes, bonds or bills, or in obligations of any agency or instrumentality of the United States Government if the payment of principal and interest of such obligations is guaranteed by the United States of America, or in bonds or notes of the State of North Carolina. Said clerk may, with the approval of the board of county commissioners, sell any or all of such securities held for investment as provided herein at a price or prices not less than the market price thereof. The interest and revenues received upon such securities and any profit from the resale thereof shall be deposited in and become a part of the general fund of the county: Provided, however, that if any valid claim with respect to such interest, revenues, or profit shall be asserted and presented to the Board of County Commissioners of Robeson County by any person, said board is hereby authorized to refund to such person out of the general fund of the county the amount of such claim."
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 All laws and clauses of laws in conflict with this Act are hereby repealed.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 26th day of March, 1963.