§ 58-86-20. State Treasurer to be custodian of fund; appropriations; contributions to fund; expenditures. - North Carolina Statutes

§58‑86‑20.  State Treasurer to be custodian of fund; appropriations;contributions to fund; expenditures.

The State Treasurer shall bethe custodian of the North Carolina Firemen's and Rescue Squad Workers' PensionFund and shall invest its assets in accordance with the provisions of G.S. 147‑69.2and G.S. 147‑69.3.  The appropriations made by the General Assembly outof the general fund to provide money for administrative expenses shall behandled in the same manner as any other general fund appropriation.  One‑fourthof the appropriation made out of the general fund to provide for the financingof the pension fund shall be transferred quarterly to a special fund to beknown as the North Carolina Firemen's and Rescue Squad Workers' Pension Fund. There shall be set up in the State Treasurer's office a special fund to beknown as the North Carolina Firemen's and Rescue Squad Workers' Pension Fund,and all contributions made by the members of this pension fund shall bedeposited in the special fund.  All expenditures for refunds, investments orbenefits shall be in the same manner as expenditures of other special funds. (1957,c. 1420, s. 1; 1959, c. 1212, s. 1; 1961, c. 980; 1971, c. 30; 1979, c. 467, s.10; 1981, c. 1029, s. 1.)