NORTH CAROLINA GENERAL ASSEMBLY
1973 SESSION

CHAPTER 1294
SENATE BILL 1421

AN ACT TO AMEND CHAPTER 66-58 OF THE GENERAL STATUTES RELATING TO BUSINESS OPERATIONS OF CAMPUS STORES AT STATE-SUPPORTED INSTITUTIONS.

The General Assembly of North Carolina enacts:

Section 1.  G.S. 66-58(c)(3) is hereby rewritten to read as follows:
"(3)	The business operation of endowment funds established for the purpose of producing income for educational purposes; for purposes of this section, the phrase 'operation of endowment funds' shall include the operation by public post-secondary educational institutions of campus stores, the profits from which are used exclusively for awarding scholarships to defray the expenses of students attending the institution; provided, that the operation of such stores must be approved by the board of trustees of the institution, and the merchandise sold shall be limited to educational materials and supplies, gift items and miscellaneous personal-use articles. Provided further that sales at campus stores are limited to employees of the institution and members of their immediate families, to duly enrolled students and their immediate families, and to other persons who are on campus other than for the purpose of purchasing merchandise from campus stores. It is the intent of this act that campus stores be established and operated for the purpose of assuring the availability of merchandise described in this Article for sale to persons enumerated herein and not for the purpose of competing with stores operated in the communities surrounding the campuses of the University of North Carolina."
Sec. 2.  This act shall become effective upon ratification.
In the General Assembly read three times and ratified, this the 11th day of April, 1974.