§ 143B-437.6. Agreements required. - North Carolina Statutes

§ 143B‑437.6. Agreements required.

Funds may be disbursed fromthe NC Green Business Fund only in accordance with agreements entered intobetween the Department of Commerce and an eligible grantee. Each agreement mustcontain the following provisions:

(1)        A description of theacceptable uses of grant proceeds. The agreement may limit the use of funds tospecific purposes or may allow the funds to be used for any lawful purposes.

(2)        A provision allowingthe Department of Commerce to inspect all records of the business that may beused to confirm compliance with the agreement or with the requirements of thisPart.

(3)        A provisionestablishing the method for determining compliance with the agreement.

(4)        A provisionestablishing a schedule for disbursement of funds under the agreement.

(5)        A provisionrequiring recapture of grant funds if a grantee subsequently fails to complywith the terms of the agreement.

(6)        Any other provisionthe State finds necessary to ensure the proper use of State funds. (2007‑323, s. 13.2(a).)