§ 116-41.13. Distinguished Professors Endowment Trust Fund; purpose. - North Carolina Statutes

Part 4A. Distinguished Professors Endowment TrustFund.

§ 116‑41.13.  Distinguished Professors EndowmentTrust Fund; purpose.

The General Assembly of North Carolina recognizes that the publicuniversity system would be greatly strengthened by the addition ofdistinguished scholars. It further recognizes that private as well as Statesupport is preferred in helping to obtain distinguished scholars for the Stateuniversities and that private support will help strengthen the commitment ofcitizens and organizations in promoting excellence throughout all Stateuniversities. It is the intent of the General Assembly to establish a trustfund to provide the opportunity to each State university to receive and matchchallenge grants to create endowments for selected distinguished professors tooccupy chairs within the university. The associated foundations that serve theuniversities shall solicit and receive gifts from private sources to providefor matching funds to the trust fund challenge grants for the establishment ofendowments for chairs within universities. (1985, c. 757, s. 202.)