GENERAL ASSEMBLY OF NORTH CAROLINA
1991 SESSION
CHAPTER 111
The General Assembly of North Carolina enacts:
Section 1. G.S. 143B-471.4(e) reads as rewritten:
"(e) The incubator
facility and any improvements shall be owned by a county, city, political
subdivision, nonprofit corporation, or charitable or educational trust, but may
be leased to the grant recipient. Small business concern residents of the
facility may be provided secretarial and other support facilities and utilities
for which the corporation may charge them a part or all of the cost. No small
business concern may remain in the facility for more than two years, provided
that except that if the owner of the property determines that it is
in the best interest of the economic vitality of the owner, lessor and lessee,
or it is economically and physically beneficial to the owner, lessor and
lessee, the lease may be extended for a period not to exceed one additional
year. of up to one year and, if the North Carolina Technological
Development Authority concurs, may be further extended for an additional period
of up to two years. Notwithstanding any other provision of law, the
State shall not be liable for any act or failure to act of any organization
granted funds under this Part, or any small business concern benefiting from
the incubator facilities program."
Sec. 2. This act is effective upon ratification.
In the General Assembly read three times and ratified this the 23rd day of May, 1991.
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James C. Gardner
President of the Senate
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Daniel Blue, Jr.
Speaker of the House of Representatives