NORTH CAROLINA GENERAL ASSEMBLY
1971 SESSION

CHAPTER 429
SENATE BILL 409

AN ACT TO AMEND CHAPTER 939 SESSION LAWS OF 1951 TO ALLOCATE ABC FUNDS.

The General Assembly of North Carolina do enact:

Section 1.  Section 6 of Chapter 939 Session Laws of 1951 is hereby rewritten to read as follows:
"Sec. 6. The Town Board of Alcoholic Control on a quarterly basis shall, after retaining a sufficient and proper working capital and payment of salaries and expenses, retain not less than five percent (5%) nor more than twenty percent (20%) of the net profits to ensure adequate law enforcement. The remaining net profits shall be distributed as follows:
5% to the Harmon Field Commission to be used solely for capital improvements useful in its recreational activities.
The remaining net profits shall be distributed as follows:
70% to the Town to be used for any lawful public purpose;
20% to the County of Polk to be used for any lawful public purpose; and
10% to the Harmon Field Commission to be used for maintenance and current operations of its recreational activities and programs."
Sec. 2.  Chapter 882 Session Laws of 1969 and all other laws and clauses of laws in conflict with this act are hereby repealed.
Sec. 3.  This act shall become effective upon ratification.
In the General Assembly read three times and ratified, this the 24th day of May, 1971.