§ 74D-30. Alarm Systems Education Fund created; payment to Fund; management; use of funds. - North Carolina Statutes

Article 2.

Alarm Systems EducationFund.

§ 74D‑30.  Alarm SystemsEducation Fund created; payment to Fund; management; use of funds.

(a)        There is herebycreated and established a special fund to be known as the "Alarm SystemsEducation Fund" (hereinafter Fund) which shall be set aside and maintainedin the office of the State Treasurer. The Fund shall be used in the mannerprovided in this Article for the education of licensees and registrants.

(b)        Repealed by SessionLaws 2009‑557, s. 10, effective October 1, 2009, and applicable tolicenses or registrations issued or renewed on or after that date.

(c)        In addition to thefees provided for elsewhere in this Chapter, the Board shall charge thefollowing fees which shall be deposited into the Fund:

(1)        On July 1, 1985, theBoard shall charge every licensee on that date a fee of fifty dollars ($50.00);

(2)        The Board shallcharge each new applicant for a license fifty dollars ($50.00), provided thatfor purposes of this Article a new applicant is hereby defined as an applicantwho did not possess a license on July 1, 1985; and

(3)        The Board isauthorized to charge each licensee an additional amount, not to exceed fiftydollars ($50.00), on July 1 of any year in which the balance of the Fund isless than twenty‑five thousand dollars ($25,000).

(d)        The State Treasurershall invest and reinvest the moneys in the Fund in a manner provided by law.The Board in its discretion, may use the Fund for any of the followingpurposes:

(1)        To advance educationand research in the alarm systems field for the benefit of those licensed underthe provisions of this Chapter and for the improvement of the industry,

(2)        To underwriteeducational seminars, training centers and other educational projects for theuse and benefit generally of licensees, and

(3)        To sponsor, contractfor and to underwrite any and all additional educational training and researchprojects of a similar nature having to do with the advancement of the alarmsystems field in North Carolina.  (1985, c. 561, s. 7; 2009‑557, s. 10.)