§ 116-74. Duration of fund; use of repaid loans and interest. - North Carolina Statutes

§ 116‑74.  Durationof fund; use of repaid loans and interest.

The Scholarship Loan Fund for Prospective College Teachers shallcontinue in effect until terminated by action of the General Assembly of NorthCarolina. Such amounts of loans as shall be repaid from time to time under theprovisions of this Article, together with such amounts of interest as may bereceived on account of loans made shall become a part of the principal amountof said loan fund. These funds shall be administered for the same purposes andunder the same provisions as are set forth herein to the end that they may beutilized in addition to such further amounts as may be privately donated orappropriated from time to time by public or corporate bodies. (1965, c. 1148, s. 1.)