NORTH CAROLINA GENERAL ASSEMBLY
1979 SESSION

CHAPTER 1302
SENATE BILL 1038

AN ACT TO RAISE THE DIVIDEND LIMIT ON MARKETING ASSOCIATION STOCK FROM EIGHT PERCENT TO TEN PERCENT.

The General Assembly of North Carolina enacts:

Section 1.  G.S. 54-152(a) is amended by deleting the word "interest" each time it appears, and inserting each time in lieu thereof the word "dividends".
Sec. 2.  G.S. 54-152(a) is further amended by deleting the phrase "eight percent (8%)" each time it appears, and inserting each time in lieu thereof the phrase "ten percent (10%)".
Sec. 3.  G.S. 24-1.3 is repealed.
Sec. 4.  This act is effective retroactive to June 25, 1975.
In the General Assembly read three times and ratified, this the 25th day of June, 1980.