NORTH CAROLINA GENERAL ASSEMBLY

1967 SESSION

 

 

CHAPTER 607

SENATE BILL 407

 

 

AN ACT TO AMEND ARTICLE 5 OF CHAPTER 108 OF THE GENERAL STATUTES RELATING TO REGULATION OF ORGANIZATIONS AND INDIVIDUALS SOLICITING PUBLIC ALMS SO AS TO REQUIRE ANNUAL FINANCIAL REPORTS TO BE FILED WITH THE STATE TREASURER.

 

The General Assembly of North Carolina do enact:

 

Section 1.  Article 5 of Chapter 108 of the General Statutes is hereby amended by adding a new Section immediately following G.S. 108-83, to be designated as G.S. 108-83.1, and to read as follows:

"Sec. 108-83.1.  Annual Financial Reports. Every licensee under G.S. 108-82, within 120 days after the end of each calendar year, or each fiscal year if such fiscal year is not on a calendar year basis, shall file with both the State Treasurer and the State Board of Public Welfare a detailed financial report showing receipts and expenditures on an itemized basis so as to disclose the various purposes for which such licensee solicited and expended funds. Such report shall include, but not by way of limitation, details as to cost of raising or securing contributions, administration of the program, organization and operation of new member groups or affiliates, amounts expended in research, amounts expended within the State, and amounts sent outside the State. Such records shall be open for public inspection at all times when the State Treasurer's office is open. No new license or renewal license shall be issued pursuant to this Article to any licensee failing to comply with this Section until such licensee shall have complied with the provisions of this Section."

Sec. 2.  All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 3.  This Act shall become effective upon its ratification.

In the General Assembly read three times and ratified, this the 26th day of May, 1967.