§ 140-5.16. Gifts; special fund; exemption from taxation. - North Carolina Statutes

§140‑5.16.  Gifts; special fund; exemption from taxation.

(a)        All gifts of moneyto the North Carolina Museum of Art and all interest earned thereon shall bepaid into the State treasury and maintained as a fund to be designated"The North Carolina Museum of Art Special Fund."

(b)        All gifts made tothe North Carolina Museum of Art shall be exempt from every form of taxationincluding, but not by way of limitation, ad valorem, intangible, gift,inheritance, and income taxation. (1961, c. 731; 1979, 2nd Sess.,c. 1306, s. 1.)