§ 115C-494. Property and income of board of trustees exempt from State taxation. - North Carolina Statutes

§ 115C‑494. Property and income of board of trustees exempt from State taxation.

All property received, purchased, contributed or donated to the boardof trustees for the benefit of any endowment fund created hereunder and alldonations, gifts and bequests received or otherwise administered for thebenefit of said endowment fund, as well as the principal and income from saidendowment fund, shall at all times be free from taxation, of any naturewhatsoever, within the State. (1961, c. 970; 1981, c. 423, s. 1.)