115D-7. Establishment of private, nonprofit corporations.
The State Board of Community Colleges shall encourage the establishment of private, nonprofit corporations to support the community college system. The President of the Community Colleges System with the approval of the State Board of Community Colleges, may assign employees to assist with the establishment and operation of such nonprofit corporation and may make available to the corporation office space, equipment, supplies and other related resources; provided, the sole purpose of the corporation is to support the community college system.
The board of directors of each private, nonprofit corporation shall secure and pay for the services of the State Auditor's Office or employ a certified public accountant to conduct an audit of the financial accounts of the corporation. The board of directors shall transmit to the State Board of Community Colleges a copy of the annual financial audit report of the private nonprofit corporation. (1987, c. 383, s. 1; 1999-84, s. 10.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 115D - Community Colleges
Article 1 - General Provisions for State Administration.
§ 115D-1 - Statement of purpose[Effective until January 1, 2023]
§ 115D-2.2 - State Board of Community Colleges.
§ 115D-3 - Community Colleges System Office; staff; reorganization authority.
§ 115D-4 - Establishment of institutions.
§ 115D-5.1 - Workforce Development Programs.
§ 115D-5.2 - Commercial fishing and aquaculture classes.
§ 115D-6 - Withdrawal of State support.
§ 115D-6.5 - Notice of noncompliance; appointment of an interim board of trustees.
§ 115D-7 - Establishment of private, nonprofit corporations.