58-31-1. State Property Fire Insurance Fund created.
Upon the expiration of all existing policies of fire insurance upon state-owned buildings, fixtures, furniture, and equipment, including all such property the title to which may be in any State department, institution, or agency, the State of North Carolina shall not reinsure any of such properties.
There is hereby created a "State Property Fire Insurance Fund," which shall be as a special fund in the State treasury, for the purpose of providing a reserve against loss from fire at State departments and institutions. The State Treasurer shall be the custodian of the "State Property Fire Insurance Fund" and shall invest its assets in accordance with the provisions of G.S. 147-69.2 and 147-69.3. The unexpended appropriations of State departments and institutions for fire insurance premiums for the fiscal year 1944-1945 and the appropriations for fire insurance premiums made for the biennium 1945-1947 or that may thereafter be made for this purpose shall be transferred to the "State Property Fire Insurance Fund." (1945, c. 1027, s. 1; 1963, c. 462; 1975, c. 519, s. 1; 1979, c. 467, s. 4.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 31 - Insuring State Property, Officials and Employees.
§ 58-31-1 - State Property Fire Insurance Fund created.
§ 58-31-2 - Certain buildings of North Carolina Global TransPark exempt.
§ 58-31-5 - Appropriations; fund to pay administrative expenses.
§ 58-31-13 - Hazardous conditions in State-owned buildings.
§ 58-31-15 - Extended coverage insurance.
§ 58-31-20 - Use and occupancy and business interruption insurance.
§ 58-31-25 - Professional liability insurance for officials and employees of the State.
§ 58-31-30 - Expired at the end of the 1993-94 fiscal year by its own terms.
§ 58-31-35 - Information furnished Commissioner by officers in charge.
§ 58-31-40 - Commissioner to inspect State property.
§ 58-31-45 - Report required of Commissioner.
§ 58-31-50 - Liability insurance required for state-owned vehicles.
§ 58-31-52 - State motor vehicle safety program.
§ 58-31-65 - Owner-controlled or wrap-up insurance authorized.