North Carolina § 147-78 - 1. Good faith deposits; use of master trust.
Full text of North Carolina North Carolina General Statutes § 147-78 — 1. Good faith deposits; use of master trust., with citation guidance and answers to common questions.
§ 147-78. 1. Good faith deposits; use of master trust.
Notwithstanding any other provision of law, the State Treasurer is authorized to select a bank or trust company as master trustee to hold cash or securities to be pledged to the State when deposited with the State Treasurer pursuant to statute or at the request of another State agency. Securities may be held by the master trustee in any form that, in fact, perfects the security interest of the State in the securities. The State Treasurer shall contractually establish the manner in which the master trust shall operate. The master trustee may charge reasonable fees for services rendered to each person who deposits the cash or securities with the State. History (1985, c. 496, s. 1; 2016-55, s. 1.6.) Effect of Amendments. - Session Laws 2016-55, s. 1.6, effective January 31, 2017, substituted "the State Treasurer" for "him" in the first sentence and "contractually" for "by rule or regulation" in the third sentence.
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 147-78
What does North Carolina General Statutes § 147-78 cover?
Section 147-78 ("1. Good faith deposits; use of master trust.") 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 § 147-78?
A common citation format is "North Carolina General Statutes § 147-78" (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 § 147-78 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.