North Carolina General Statutes 156-135.1. Investment of surplus funds
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Terms Used In North Carolina General Statutes 156-135.1
- Fiduciary: A trustee, executor, or administrator.
- United States: shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
Any drainage district organized under the provisions of Subchapter III of Chapter 156 of the N.C. Gen. Stat. and the governing authority of same is hereby authorized and empowered to invest any surplus funds or any funds not needed for the immediate use of the district in United States bonds or any securities or type of investment in which guardians, executors, administrators and others acting in a fiduciary capacity are authorized to make investments by virtue of Article 1 of Chapter 36 of the N.C. Gen. Stat. as amended. (1951, c. 1058, s. 1.)