NORTH CAROLINA GENERAL ASSEMBLY

1967 SESSION

 

 

CHAPTER 955

HOUSE BILL 456

 

 

AN ACT TO AMEND ARTICLE 23 OF CHAPTER 116 OF THE GENERAL STATUTES OF NORTH CAROLINA PERTAINING TO THE STATE EDUCATION ASSISTANCE AUTHORITY.

 

The General Assembly of North Carolina do enact:

 

Section 1.  Section 116-202 of the General Statutes of North Carolina is amended by rewriting the first paragraph thereof to read as follows:

"In order to facilitate the vocational and college education of residents of this State and to promote the industrial and economic development of the State, the State Education Assistance Authority (hereinafter created) is hereby authorized and empowered to buy and sell obligations of students attending institutions of higher education or post-secondary business, trade, technical, and other vocational schools, which obligations represent loans made to such students for the purpose of obtaining training or education."

Sec. 2.  Section 116-206 of the General Statutes of North Carolina is amended by striking out the words "of this State" in line 4 thereof. Section 116-206 is further amended by striking out the words "not exceeding eighty per cent (80%)" in lines 4 and 5 and substituting therefor the words: "of one hundred per cent (100%)".

Sec. 3.  All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 4.  This Act shall be in full force and effect from the date of ratification.

In the General Assembly read three times and ratified, this the 27th day of June, 1967.