§ 143C-4-5. Non-State match restrictions. - North Carolina Statutes

§ 143C‑4‑5.  Non‑Statematch restrictions.

Whenever money is required tomatch an appropriation made for a specific purpose by the State of NorthCarolina, the recipient of the appropriation shall actually receive as a gift,grant, earnings in actual money, or a pledge that can be used as collateral inany prudent loan transaction, the matching amount required. The recipient shallretain the matching amount received in its possession until spent for thatpurpose and shall spend an equal percentage of the appropriation and of thematching amount each time an expenditure is made, unless the individualappropriation requires otherwise. (2006‑203, s. 3.)