§ 58-84-35. Disbursement of funds by trustees. - North Carolina Statutes

§ 58‑84‑35. Disbursement of funds by trustees.

The board of trustees shallhave entire control of the funds derived from the provisions of this Article,and shall disburse the funds only for the following purposes:

(1)        To safeguard anyfireman in active service from financial loss, occasioned by sicknesscontracted or injury received while in the performance of his duties as afireman.

(2)        To provide areasonable support for those actually dependent upon the services of anyfireman who may lose his life in the fire service of his town, city, or State,either by accident or from disease contracted or injury received by reason ofsuch service. The amount is to be determined according to the earning capacityof the deceased.

(2a)      To provideassistance, upon approval by the Secretary of the State Firemen's Association,to a destitute member fireman who has served honorably for at least five years.

(3)        Repealed by SessionLaws 1985, c. 666, s. 61.

(4)        To provide for thepayment of any fireman's assessment in the Firemen's Fraternal Insurance Fundof the State of North Carolina if the board of trustees finds as a fact thatsaid fireman is unable to pay the said assessment by reason of disability.

(5)        To provide forbenefits of supplemental retirement, workers compensation, and other insuranceand pension protection for firefighters otherwise qualifying for benefits fromthe Firefighters' Relief Fund as set forth in Article 85 of this Chapter.

(6)        To provide foreducational benefits to firemen and their dependents who otherwise qualify forbenefits from the Firefighters' Relief Fund as set forth in Article 85 of thisChapter.

Notwithstanding any otherprovisions of law, no expenditures shall be made pursuant to subsections (5)and (6) of this section unless the State Firemen's Association has certifiedthat such expenditures will not render the Fund actuarially unsound for thepurposes of providing the benefits set forth in subsections (1), (2), and (4)of this section. If, for any reason, funds made available for subsections (5)and (6) of this section shall be insufficient to pay in full any benefits, thebenefits pursuant to subsections (5) and (6) shall be reduced pro rata for aslong as the amount of insufficient funds exists. No claim shall accrue withrespect to any amount by which a benefit under subsections (5) and (6) shallhave been reduced.  (1907,c. 831, s. 6; 1919, c. 180; C.S., s. 6069; Ex. Sess. 1921, c. 55; 1923, c. 22;1925, c. 41; 1945, c. 74, s. 2; 1985, c. 666, s. 61; 1987, c. 174, ss. 2, 3;1997‑456, s. 27; 2007‑246, s. 4; 2008‑187, s. 13.)