§ 143-268. Official records turned over to Department of Cultural Resources; conversion of other assets into cash; allocation of assets to State agency or department. - North Carolina Statutes

§ 143‑268. Official records turned over to Department of Cultural Resources; conversion ofother assets into cash; allocation of assets to State agency or department.

The Secretary of Administration shall receive all such assets sodelivered and, after they have served their purpose in the liquidation of theaffairs of such board or agency, shall turn over all official records of suchboard or agency to the Department of Cultural Resources to be held pursuant tothe statutes relating to such Department. The Secretary of Administration shallproceed to convert all other such assets into cash by public sale to thehighest  bidder, and shall deposit the net proceeds of any such sale with theState Treasurer: Provided, that the Secretary of Administration, in hisdiscretion, may allocate to any State agency or department, the whole or anypart of such assets, the sale of which is not required to discharge theobligations of the board or agency being liquidated. (1949, c. 740, s. 2; 1973, c. 476, s. 48; 1975, c. 879,s. 46.)