There is a newer version of the North Carolina General Statutes
2005 North Carolina Code - General Statutes § 115C-493. When only income from fund expended.
§ 115C‑493. When only income from fund expended.
Where the donor of said pledges, gifts, donations, devises and bequests so provides, the board of trustees shall keep the principal of such gift or gifts intact and only the income therefrom may be expended. (1961, c. 970; 1981, c. 423, s. 1.)
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