NORTH CAROLINA GENERAL ASSEMBLY
1963 SESSION

CHAPTER 365
HOUSE BILL 560

AN ACT TO AMEND CHAPTER 131 OF THE GENERAL STATUTES RELATING TO STUDENT LOAN FUNDS ADMINISTERED BY THE NORTH CAROLINA MEDICAL CARE COMMISSION.

The General Assembly of North Carolina do enact:

Section 1.  G.S. 131-121(3), as the same appears in the 1961 Cumulative Supplement of the General Statutes, is hereby rewritten to read as follows:
"(3)	Under rules promulgated by the North Carolina Medical Care Commission, any loans made hereunder shall be cancelled on the basis of a credit of the amount of one year's loan for each year of satisfactory service performed as a member of staff of any of the institutions, clinics or other facilities under the administration of the North Carolina Hospitals Board of Control; the provisions of this Section, relative to cancellation of loans on the basis of service performed, shall be applicable with respect to service performed since July 1, 1960. Loans or any parts thereof not so cancelled shall be repaid by the borrower and shall bear interest at the rate of four per cent (4%) per annum."
Sec. 2.  G.S. 131-121.1 is hereby amended by striking out the words "the State Hospital at Butner, the State Hospital at Goldsboro, the State Hospital at Morganton or the State Hospital at Raleigh." appearing in lines 12, 13 and 14 thereof and by substituting in lieu thereof the words "any of the institutions, clinics or other facilities under the administration of the North Carolina Hospitals Board of Control; the provisions of this Section, relative to cancellation of loans on the basis of service performed, shall be applicable with respect to service performed since July 1, 1960."
Sec. 3.  All laws and clauses of laws in conflict with the provisions of this Act are hereby repealed.
Sec. 4.  This Act shall be in full force and effect from and after its ratification.
In the General Assembly read three times and ratified, this the 6th day of May, 1963.