North Carolina § 161-50 - 2. Assets.
Full text of North Carolina North Carolina General Statutes § 161-50 — 2. Assets., with citation guidance and answers to common questions.
§ 161-50. 2. Assets.
On and after October 1, 1987, each County Commission shall remit monthly to the Department of State Treasurer an amount equal to one and one-half percent (1.5%) of the monthly receipts collected pursuant to Article 1 of Chapter 161 of the General Statutes, to be deposited to the credit of the Registers of Deeds' Supplemental Pension Fund, hereinafter referred to as the Fund, to be used in making monthly pension payments to eligible retired registers of deeds under the provisions of this Article and to pay the cost of administering the provisions of this Article. A County Commission's submission of these amounts to the Department of State Treasurer constitutes a certification of the accuracy of these amounts. The State Treasurer shall be the custodian of the Registers of Deeds' Supplemental Pension Fund and shall invest its assets in accordance with the provisions of G.S. 147-69.2 and G.S. 147-69.3. History (1987, c. 792, s. 1; 2007-245, s. 1; 2021-60, s. 2.2.) Effect of Amendments. - Session Laws 2007-245, s. 1, effective July 1, 2007, substituted "one and one-half percent (1.5%)" for "four and one half percent (4.5%)" near the beginning of subsection (a). Session Laws 2021-60, s. 2.2, effective July 1, 2021, added the last sentence in subsection (a).
Frequently Asked Questions About North Carolina § 161-50
What does North Carolina General Statutes § 161-50 cover?
Section 161-50 ("2. Assets.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Carolina § 161-50?
A common citation format is "North Carolina General Statutes § 161-50" (North Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 161-50 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Carolina.