1965/66/67 session laws – Ch.398 Sec.1
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CHAPTER 398 AN ACT TO AMEND CHAPTER 147 OF THE GENERAL STATUTES WITH RESPECT TO THE INVESTMENT OF SURPLUS STATE FUNDS. The General Assembly of North Carolina do enact:
G. S. 147-69.1 is hereby amended by rewriting the second sentence thereof to read as follows: The Governor and the State Treasurer, acting jointly, with the approval of the Council of State, are hereby authorized to invest such excess funds -1 in bonds, notes, certificates of indebtedness and bills of the United States of America or in obligations which are fully guaranteed by the United States of America; or -2 in bonds, notes and other obligations of the Federal Intermediate Credit Banks, the Federal Home Loan Banks, the Federal National Mortgage Association, Banks for Cooperatives, and the Federal Land Banks; or -3 in bonds and notes of the State of North Carolina; or -4 in certificates of deposit issued by banks or official depositories within the State of North Carolina, yielding a return at rates not less than those available on United States Treasury bonds, notes, certificates of indebtedness or bills of comparable maturities.