NORTH CAROLINA GENERAL ASSEMBLY
1963 SESSION

CHAPTER 898
HOUSE BILL 1263

AN ACT TO AMEND CHAPTER 435 OF THE SESSION LAWS OF 1949 AS AMENDED BY SESSION LAWS OF 1955 RELATING TO SANFORD CEMETERY COMMISSION.

The General Assembly of North Carolina do enact:

Section 1. That Chapter 435 of the Session Laws of 1949 as amended by Chapter 1088 Session Laws of 1955 shall be amended by deleting and repealing Section 5½ of said Chapter 1088 of Session Laws of 1955 and substituting in lieu thereof the following:
"All funds, monies, stocks, bonds and other securities and properties belonging to the perpetual care fund of Sanford Cemetery Commission and now held by the Treasurer of the City of Sanford, shall be transferred, delivered or paid over to the Sanford Cemetery Commission, and said Commission shall have the power and authority to place, invest or reinvest all of said funds, including cash, stocks, and bonds and other investments with a banking corporation in the City of Sanford having trust powers, in a Trust Fund for the perpetual care of Sanford cemeteries, and no part of said funds shall hereafter be expended except as directed by the Sanford Cemetery Commission."
Sec. 2. Said Sanford Cemetery Commission shall have the power to make and enter into such contract with the said Trustee as the said Commission shall deem for the best interest of said funds as a perpetual care fund of the cemeteries of the City of Sanford.
Sec. 3. That all laws and clauses of laws in conflict with this Act are hereby repealed.
Sec. 4. That 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 12th day of June, 1963.