§ 115C-342. Group insurance and credit unions. - North Carolina Statutes

§ 115C‑342.  Groupinsurance and credit unions.

(a)        The State Board of Education may authorize and empower anylocal board of education, the board of trustees of any community college, orother governing authority, within the State, to establish a voluntary payrolldeduction plan for:

(1)        Premiums for any type of group insurance established andauthorized by the laws of this State.

(2)        Amounts authorized by members of the State Employees' CreditUnion or any local teachers' credit unions to be deposited with suchorganizations.

(3)        Loans made to teachers by credit unions.

(b)        Any employee of any local board of education, any communitycollege, or of any educational association, may enter into a written agreementwith his employer for the purpose of carrying out the provisions of thissection. The State Board of Education is authorized and empowered to make andpromulgate rules and regulations to carry out the purposes of this section.

(c)        Any public school teacher who is a member of a credit unionorganized and established under Chapter 54 of the General Statutes may, byexecuting a written consent to the local school administrative unit by whomemployed, authorize periodical payment or obligation to such credit union to bededucted from their salaries or wages, and such deductions shall be made andpaid to said credit union as and when said salaries and wages are payable. (1969, c. 591; 1981, c. 423, s. 1; 1987, c. 564, ss12, 16.)