116-209.7. Trust funds.
Notwithstanding any other provisions of law to the contrary, all money received pursuant to the authority of the Article, whether as proceeds from the sale of bonds, sale of property or insurance, or as payments of student loans, whether principal, interest or penalties, if any, thereon, or as insurance premiums, or from the purchase or sale of obligations, or as any other receipts or revenues derived hereunder, shall be deemed to be trust funds to be held and applied solely as provided in this Article. The resolution authorizing the bonds of any issue may provide that any of such money may be temporarily invested pending the disbursement thereof and shall provide that any officer with whom, or any bank or trust company with which, such money shall be deposited shall act as trustee of such money and shall hold and apply the same for the purposes hereof, subject to such regulations as this Article and such resolution may provide. (1967, c. 1177.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 116 - Higher Education
Article 23 - State Education Assistance.
§ 116-201 - Purpose and definitions.
§ 116-204 - Powers of Authority.
§ 116-204.1 - Council on residency determination policies.
§ 116-205 - Title to property; use of State lands; offices.
§ 116-206 - Acquisition of obligations.
§ 116-207 - Terms of acquisitions.
§ 116-208 - Construction of Article.
§ 116-209.1 - Provisions in conflict.
§ 116-209.3 - Additional powers.
§ 116-209.4 - Authority to issue bonds.
§ 116-209.5 - Bond resolution.
§ 116-209.9 - Negotiability of bonds.
§ 116-209.10 - Bonds eligible for investment.
§ 116-209.11 - Additional pledge.
§ 116-209.12 - Credit of State not pledged.
§ 116-209.14 - Annual reports.
§ 116-209.15 - Merger of trust fund.
§ 116-209.16 - Other powers; criteria.
§ 116-209.16A - Information on career and major options.
§ 116-209.17 - Establishment of student assistance program.
§ 116-209.18 - Powers of Authority to administer student assistance program.
§ 116-209.19 - Grants to students.
§ 116-209.20 - Public purpose.
§ 116-209.22 - Constitutional construction.
§ 116-209.23 - Inconsistent laws inapplicable.
§ 116-209.24 - Parental loans.
§ 116-209.25 - Parental Savings Trust Fund.
§ 116-209.27 - Administration of scholarships previously awarded by Teaching Fellows Program.
§ 116-209.28 - Administration of scholarships previously awarded by the Principal Fellows Program.
§ 116-209.45 - Forgivable Education Loans for Service Program and Fund.
§ 116-209.50 - Recodified as G.S§ 127A-190, effective November 18, 2021.
§ 116-209.51 - Recodified as G.S§ 127A-191, effective November 18, 2021.
§ 116-209.52 - Recodified as G.S§ 127A-192, effective November 18, 2021.
§ 116-209.53 - Recodified as G.S§ 127A-193, effective November 18, 2021.
§ 116-209.54 - Recodified as G.S§ 127A-194, effective November 18, 2021.
§ 116-209.55 - Recodified as G.S§ 127A-195, effective November 18, 2021.
§ 116-209.61 - North Carolina Teaching Fellows Commission established; membership.
§ 116-209.62 - North Carolina Teaching Fellows Program established; administration.
§ 116-209.63 - Terms of forgivable loans; receipt and disbursement of funds.
§ 116-209.81 - Eligibility requirements for a scholarship.
§ 116-209.82 - Semester limitation on eligibility for scholarship.
§ 116-209.83 - Scholarship amounts; adjustment of scholarship amounts.
§ 116-209.84 - Scholarship administration; reporting requirements.
§ 116-209.85 - Scholarship Reserve Fund for Public Colleges and Universities.
§ 116-209.90 - Tuition grants for graduates to attend a constituent institution.