§ 161-50.2. Assets. - North Carolina Statutes

§ 161‑50.2.  Assets.

(a)        On and afterOctober 1, 1987, each County Commission shall remit monthly to the Departmentof State Treasurer an amount equal to one and one‑half percent (1.5%) ofthe monthly receipts collected pursuant to Article 1 of Chapter 161 of theGeneral Statutes, to be deposited to the credit of the Registers of Deeds'Supplemental Pension Fund, hereinafter referred to as the Fund, to be used inmaking monthly pension payments to eligible retired registers of deeds underthe provisions of this Article and to pay the cost of administering theprovisions of this Article.

(b)        The State Treasurershall be the custodian of the Registers of Deeds' Supplemental Pension Fund andshall invest its assets in accordance with the provisions of G.S. 147‑69.2and G.S. 147‑69.3. (1987, c. 792, s. 1; 2007‑245, s. 1.)