§ 87-9.1. Ownership of real property; equipment; liability insurance. - North Carolina Statutes

§87‑9.1.  Ownership of real property; equipment; liability insurance.

(a)        The Board shallhave the power to acquire, hold, rent, encumber, alienate, and otherwise dealwith real property in the same manner as a private person or corporation,subject only to approval of the Governor and the Council of State as to theacquisition, rental, encumbering, leasing, and sale of real property.Collateral pledged by the Board for an encumbrance is limited to the assets,income, and revenues of the Board.

(b)        The Board maypurchase or rent equipment and supplies and purchase liability insurance orother insurance to cover the activities of the Board, its operations, or itsemployees. (1999‑349, s. 1.)