2005 North Carolina Code - General Statutes § 116-36.2. Regulation of special funds of individual institutions.

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

(a)       Notwithstanding any provisions of law other than Article 5A of Chapter 147 of the General Statutes, the chancellor of each institution is responsible for the custody and management of the special funds of that institution. The Board shall adopt uniform policies and procedures applicable to the administration of these funds which shall assure that the receipt and expenditure of such funds is properly authorized and that the funds are appropriately accounted for.

(b)       As used in this section, "special funds of individual institutions" means:

(1)       Moneys received from or for the operation by an institution of its program of intercollegiate athletics;

(2)       Moneys held by an institution as fiscal agent for individual  students, faculty, staff members, and organizations. (1977, 2nd Sess., c. 1136, s. 31; 1983, c. 913, s. 19.)