2015 North Carolina General Statutes
Chapter 159 - Local Government Finance.
Article 3 - The Local Government Budget and Fiscal Control Act.
§ 159-42.1 - 1. Establishment of nonprofit corporation by public authority authorized.
159-42.1. Establishment of nonprofit corporation by public authority authorized.
A public authority may establish, control, and operate a nonprofit corporation that is created under Chapter 55A of the General Statutes and is a tax-exempt organization under the Internal Revenue Code to further the authorized purposes of the public authority. A nonprofit corporation established as provided in this section shall not have regulatory or enforcement powers and shall not engage in partisan political activity. (2015-122, s. 1.)
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