§ 116-204. Powers of Authority. - North Carolina Statutes

§ 116‑204.  Powers of Authority.

The Authority is hereby authorized and empowered:

(1)        To fix and revise from time to time and charge and collectfees for its acts and undertakings;

(2)        To establish rules and regulations concerning its acts andundertakings;

(3)        To acquire, hold and dispose of personal property in theexercise of its powers and the performance of its duties;

(4)        To make and enter into all contracts and agreementsnecessary or incidental to the performance of its duties and the execution of itspowers under this Article;

(5)        To employ, in its discretion, consultants, attorneys,accountants, and financial experts, superintendents, managers and such otheremployees and agents as may be necessary in its judgment, and to fix theircompensation to be payable from funds made available to the Authority by law;

(6)        To receive and accept from any federal or private agency,corporation, association or person grants to be expended in accomplishing theobjectives of the Authority, and to receive and accept from the State, from anymunicipality, county or other political subdivision thereof and from any othersource aid or contributions of either money, property, or other things ofvalue, to be held, used and applied only for the purposes for which such grantsand contributions may be made;

(7)        To sue and to be sued; to have a seal and to alter the sameat its pleasure; and to make and from time to time amend and repeal bylaws,rules and regulations not inconsistent with law to carry into effect the powersand purposes of the Authority;

(8)        To do all other acts and things necessary or convenient tocarry out the powers expressly granted in this Article; provided, however, thatnothing in this Article shall be construed to empower the Authority to engagein the business of banking or insurance.

(9)        To collect loan repayments for loans awarded under theTeaching Fellows Program pursuant to G.S. 115C‑363.23A if the loanrepayment is outstanding for more than 30 days.

(10)      To collect loan repayments for loans awarded from theScholarship Loan Fund for Prospective Teachers pursuant to Article 32A ofChapter 115C of the General Statutes if the loan repayment is outstanding formore than 30 days. (1965, c. 1180, s. 1; 2002‑126,s. 9.2(f).)