North Carolina General Statutes
Article 1 - The University of North Carolina.
§ 116-41.15 - Distinguished Professors Endowment Trust Fund; allocation; administration.

116-41.15. Distinguished Professors Endowment Trust Fund; allocation; administration.
(a) For constituent institutions other than focused growth institutions and special needs institutions, the amount appropriated to the trust shall be allocated by the Board as follows:
(1) On the basis of one three hundred thirty-four thousand dollar ($334,000) challenge grant for each six hundred sixty-six thousand dollars ($666,000) raised from private sources; or
(2) On the basis of one one hundred sixty-seven thousand dollar ($167,000) challenge grant for each three hundred thirty-three thousand dollars ($333,000) raised from private sources; or
(3) On the basis of one challenge grant of up to six hundred sixty-seven thousand dollars ($667,000) for funds raised from private sources in twice the amount of the challenge grant.
If an institution chooses to pursue the use of the allocated challenge grant funds described in either subdivision (1), subdivision (2), or subdivision (3) of this subsection, the challenge grant funds shall be matched by funds from private sources on the basis of two dollars of private funds for every one dollar of State funds.
(b) For focused growth institutions and special needs institutions, the amount appropriated to the trust shall be allocated by the Board as follows:
(1) On the basis of one five hundred thousand dollar ($500,000) challenge grant for each five hundred thousand dollars ($500,000) raised from private sources; or
(2) On the basis of one two hundred fifty thousand dollar ($250,000) challenge grant for each two hundred fifty thousand dollars ($250,000) raised from private sources; or
(3) On the basis of one challenge grant of up to one million dollars ($1,000,000) for funds raised from private sources in the same amount as the challenge grant.
If an institution chooses to pursue the use of the allocated challenge grant funds described in either subdivision (1), subdivision (2), or subdivision (3) of this subsection, the challenge grant funds shall be matched by funds from private sources on the basis of one dollar of private funds for every dollar of State funds.
(c) Matching funds shall come from contributions made after July 1, 1985, and pledged for the purposes specified by G.S. 116-41.14. Each participating constituent institution's board of trustees shall establish its own Distinguished Professors Endowment Trust Fund, and shall maintain it pursuant to the provision of G.S. 116-36 to function as a depository for private contributions and for the State matching funds for the challenge grants. The State matching funds shall be transferred to the constituent institution's Endowment Fund upon notification that the institution has received and deposited the appropriate amount required by this section in its own Distinguished Professors Endowment Trust Fund. Only the net income from that account shall be expended in support of the distinguished professorship thereby created. (1985, c. 757, s. 202; 2003-293, s. 2; 2005-276, s. 9.21(a).)

Structure North Carolina General Statutes

North Carolina General Statutes

Chapter 116 - Higher Education

Article 1 - The University of North Carolina.

§ 116-1 - Purpose.

§ 116-2 - Definitions.

§ 116-3 - Incorporation and corporate powers.

§ 116-3.3 - Mediation matters.

§ 116-4 - Constituent institutions of the University of North Carolina.

§ 116-5 - Initial membership of Board of Governors.

§ 116-6 - Election and terms of members of Board of Governors.

§ 116-6.1 - Student member of the Board of Governors.

§ 116-7 - General provisions concerning members of the Board of Governors.

§ 116-8 - Chairman, vice-chairman and secretary.

§ 116-9 - Meetings of Board of Governors.

§ 116-10 - Committees.

§ 116-11 - Powers and duties generally.

§ 116-11.1 - Transferred to G.S116-37 by Session Laws 1971, c1244, s6.

§ 116-11.2 - Duties regarding programs in education administration.

§ 116-11.3 - UNC admissions policy for early college graduates.

§ 116-12 - Property and obligations.

§ 116-13 - Powers of Board regarding property and services subject to general law.

§ 116-13.1 - Capital facilities; reports.

§ 116-13.2 - Report on University Fiscal Liabilities.

§ 116-14 - President and staff.

§ 116-15 - Licensing of certain nonpublic post-secondary educational institutions.

§ 116-16 - Tax exemption.

§ 116-17 - Purchase of annuity or retirement income contracts for faculty members, officers and employees.

§ 116-17.1 - Dependent care assistance program.

§ 116-17.2 - Flexible Compensation Plan.

§ 116-18 - Information Center established.

§ 116-22.1 through 116-25 - Transferred to §§ 116A-3 to 116A-7 by Session Laws 1971, c1135, s2.

§ 116-26 - Transferred to § 116-43 by Session Laws 1971, c1244, s17.

§ 116-29.1 - University Cancer Research Fund[Effective July 1, 2022]

§ 116-30 - Transferred to § 116-40 by Session Laws 1971, c1244, s9.

§ 116-30.01 - Recodified as G.S115C-296.4 by Session Laws 2006-66, s9.17(c), effective January 1, 2007.

§ 116-30.1 - Special responsibility constituent institutions.

§ 116-30.2 - Appropriations to special responsibility constituent institutions.

§ 116-30.3 - Reversions.

§ 116-30.3A - Availability of excess receipts.

§ 116-30.3B - Energy conservation savings.

§ 116-30.4 - Position management.

§ 116-30.5 - Impact on education.

§ 116-30.8 - Special responsibility constituent institutionsannual audit by State Auditor.

§ 116-30.20 - Establishment of private, nonprofit corporations.

§ 116-31 - Membership of the boards of trustees.

§ 116-31.10 - Powers of Board regarding certain purchasing contracts.

§ 116-31.11 - Powers of Board regarding certain fee negotiations, contracts, and capital improvements.

§ 116-31.12 - Acquisition and disposition of real property by lease.

§ 116-32 - Officers and meetings of the boards of trustees.

§ 116-33 - Powers and duties of the boards of trustees.

§ 116-33.1 - Board of trustees to permit recruiter access.

§ 116-33.2 - Cooperative Extension Service employees.

§ 116-34 - Duties of chancellor of institution.

§ 116-35 - Electric power plants, campus school, etc.

§ 116-36 - Endowment fund.

§ 116-36.1 - Regulation of institutional trust funds.

§ 116-36.2 - Regulation of special funds of individual institutions.

§ 116-36.4 - Vending facilities.

§ 116-36.5 - Centennial Campus trust fund; Horace Williams Campus trust fund; Millennial Campuses' trust funds.

§ 116-36.6 - East Carolina University School of Medicine; Medicare receipts.

§ 116-36.7 - Wake Forest Institute for Regenerative Medicine; profit sharing with State.

§ 116-37 - University of North Carolina Health Care System.

§ 116-37.1 - Center for public media.

§ 116-37.2 - Regulation of University of North Carolina Hospitals at Chapel Hill Funds.

§ 116-37.3 - Personnel of Dental School Clinical Operations at the University of North Carolina at Chapel Hill.

§ 116-38 - Child development research and demonstration center.

§ 116-39 - Agricultural research stations.

§ 116-40 - Board to accept gifts and congressional donations.

§ 116-40.1 - Land scrip fund.

§ 116-40.2 - Authorization to purchase insurance in connection with construction and operation of nuclear reactors.

§ 116-40.3 - Participation in sixth-year program of graduate instruction for superintendents, assistant superintendents, and principals of public schools.

§ 116-40.4 - School of medicine authorized at East Carolina University; meeting requirements of accrediting agencies.

§ 116-40.5 - Campus law enforcement agencies.

§ 116-40.6 - Certain Personnel of East Carolina University.

§ 116-40.7 - Internal auditors.

§ 116-40.8 - University of North Carolina at Pembroke designated as North Carolina's Historically American Indian University.

§ 116-40.11 - Disciplinary proceedings; right to counsel for students and organizations.

§ 116-40.12 - Student organizations; rights and recognition.

§ 116-40.13 - Authorization to secure liability insurance for alcohol sales.

§ 116-40.20 - Legislative findings.

§ 116-40.21 - Board of governors may authorize management flexibility.

§ 116-40.22 - Management flexibility.

§ 116-40.23 - Reporting requirement; effective date of reported policies, procedures, and rules.

§ 116-41.1 - Definitions.

§ 116-41.2 - Powers of Board of Governors generally.

§ 116-41.3 - University authorized to pay service charges; payments deemed revenues.

§ 116-41.4 - Bonds authorized; amount limited; form, execution and sale; terms and conditions; use of proceeds; additional bonds; interim receipts or temporary bonds; replacement of lost, etc., bonds; approval or consent for issuance; bonds not debt...

§ 116-41.5 - Contents of resolution authorizing issuance; powers liberally construed; deposit and use of revenues; rights and remedies of bondholders; service charges; insurance of projects; depositaries.

§ 116-41.6 - Pledge of revenues; lien.

§ 116-41.7 - Proceeds of bonds, revenues, etc., deemed trust funds.

§ 116-41.8 - Rights and remedies of bondholders.

§ 116-41.9 - Refunding revenue bonds.

§ 116-41.10 - Exemption from taxation.

§ 116-41.11 - Executive committee may be authorized to exercise powers and functions of Board.

§ 116-41.12 - Part provides supplemental and additional powers; compliance with other laws not required.

§ 116-41.13 - Distinguished Professors Endowment Trust Fund; purpose.

§ 116-41.13A - Distinguished Professors Endowment Trust Fund; definitions.

§ 116-41.14 - Distinguished Professors Endowment Trust Fund; establishment; maintenance.

§ 116-41.15 - Distinguished Professors Endowment Trust Fund; allocation; administration.

§ 116-41.16 - Distinguished Professors Endowment Trust Fund; contribution commitments.

§ 116-41.17 - Distinguished Professors Endowment Trust Fund; establishment of chairs.

§ 116-41.18 - Distinguished Professors Endowment Trust Fund; selection of Distinguished Professors.

§ 116-41.19 - Distinguished Professors Endowment Trust Fund; promulgation of rules.

§ 116-41.30 - Establishment of Future Teachers of North Carolina.

§ 116-41.31 - Oversight of Future Teachers of North Carolina.

§ 116-43 - Escheat receipts prior to July 1, 1971.

§ 116-43.1 - Institute for Transportation Research and Education.

§ 116-43.10 - Academic Common Market program.

§ 116-43.15 - Use of college or university facilities by public school students pursuant to cooperative programs.

§ 116-43.16 - Small business counseling information.

§ 116-43.17 - Confidentiality of research data, records, and information of a proprietary nature.

§ 116-43.20 - Operation of 4-H camps.

§ 116-43.30 - Advanced Placement courses for secondary school students.

§ 116-44.1 - Transferred to § 116-42 by Session Laws 1971, c1244, s11.

§ 116-44.2 - Transferred to § 116-38 by Session Laws 1971, c1244, s7.

§ 116-44.3 - Definitions.

§ 116-44.4 - Regulation of traffic and parking and registration of motor vehicles.

§ 116-44.5 - Special provisions applicable to identified constituent institutions of the University of North Carolina.

§ 116-44.6 - Definitions.

§ 116-44.7 - Exemption from certain fees and charges.

§ 116-44.8 - Fire Safety Loan Fund.