§ 116-36.2. Regulation of special funds of individual institutions. - North Carolina Statutes

§ 116‑36.2.  Regulationof special funds of individual institutions.

(a)        NotwithstandingChapter 143C or any provisions of law other than Article 5A of Chapter 147 ofthe General Statutes, the chancellor of each institution is responsible for thecustody and management of the special funds of that institution. The Boardshall adopt uniform policies and procedures applicable to the administration ofthese funds which shall assure that the receipt and expenditure of such fundsis properly authorized and that the funds are appropriately accounted for. Thespecial funds of individual institutions regulated by this section areappropriated and may be used only as authorized by this section.

(b)        As used in thissection, "special funds of individual institutions" means:

(1)        Moneys received fromor for the operation by an institution of its program of intercollegiateathletics;

(2)        Moneys held by aninstitution as fiscal agent for individual students, faculty, staff members,and organizations. (1977,2nd Sess., c. 1136, s. 31; 1983, c. 913, s. 19; 2006‑203, s. 46.)