2005 North Carolina Code - General Statutes § 116-21.1. Financial aid for North Carolina students attending private institutions of higher education in North Carolina.

§ 116‑21.1.  Financial aid for North Carolina students attending private institutions of higher education in North Carolina.

(a)       Funds shall be appropriated each fiscal year in the Current Operations Appropriations Act to the Board of Governors of The University of North Carolina for aid to institutions and shall be disbursed in accordance with the provisions of G.S. 116‑19, 116‑21, and 116‑22.

(b)       The funds appropriated in compliance with this section shall be placed in a separate, identifiable account in each eligible institution's budget or chart of accounts. All funds in the account shall be provided as scholarship funds for needy North Carolina students during the fiscal year. Each student awarded a scholarship from this account shall be notified of the source of the funds and of the amount of the award. Funds not utilized under G.S. 116‑19 shall be available for the tuition grant program as defined in G.S. 116‑21.2. (2001‑424, s. 31.1(a).)