§ 147-69.5. Local Government Law Enforcement Special Separation Allowance Fund. - North Carolina Statutes

§ 147‑69.5.  LocalGovernment Law Enforcement Special Separation Allowance Fund.

The Local Government LawEnforcement Special Separation Allowance Fund is established as a fund in theOffice of the State Treasurer under the management of the Treasurer. The Fundconsists of contributions made by entities authorized to make contributions tothe Fund and interest and other investment income earned by the Fund.Contributions to the Fund are irrevocable. Assets of the Fund may be used onlyto provide law enforcement special separation allowance benefits to individualswho are former employees of a unit of local government that contributes to theFund and are entitled to law enforcement special separation allowance payableby the unit. The assets of the Fund are not subject to the claims of creditorsof an entity that contributes to the Fund. (2007‑384, s. 6.)