2005 North Carolina Code - General Statutes § 165-48. North Carolina Veterans Home Trust Fund.

§ 165‑48.  North Carolina Veterans Home Trust Fund.

(a)       Establishment. – A trust fund shall be established in the State treasury, for the Division of Veterans Affairs, to be known as the North Carolina Veterans Home Trust Fund.

(b)       Composition. – The trust fund shall consist of all funds and monies received by the Veterans Affairs Commission or the Division of Veterans Affairs from the United States, any federal agency or institution, and any other source, whether as a grant, appropriation, gift, contribution, bequest or individual reimbursement, for the care and support of veterans who have been admitted to a State veterans home.

(c)       Use of Fund. – The trust fund created in subsection (a) of this section shall be used by the Division of Veterans Affairs:

(1)       To pay for the care of veterans in said State veterans homes;

(2)       To pay the general operating expenses of the State veterans homes, including the payment of salaries and wages of officials and employees of said homes; and

(3)       To remodel, repair, construct, modernize, or add improvements to buildings and facilities at the homes.

(d)       Miscellaneous. – The following provisions apply to the trust fund created in subsection (a) of this section:

(1)       All funds deposited and all income earned on the investment or reinvestment of such funds shall be credited to the trust fund.

(2)       Any monies remaining in the trust fund at the end of each fiscal year shall remain on deposit in the State treasury to the credit of the North Carolina Veterans Home Trust Fund.

(3)       Nothing contained herein shall prohibit the establishment and utilization of special agency accounts by the Division of Veterans Affairs, as may be approved by the Veterans Affairs Commission, for the receipt and disbursement of personal funds of the State veterans homes' residents or for receipt and disbursement of charitable contributions for use by and for residents. (1995, c. 346, s. 1.)