North Carolina § 156-127 - Special fund set up; distribution of collections.
Full text of North Carolina North Carolina General Statutes § 156-127 — Special fund set up; distribution of collections., with citation guidance and answers to common questions.
§ 156-127. Special fund set up; distribution of collections.
The collection of assessments adjusted under this Article and of interest accrued under G.S. 156-126 shall be set aside in a fund and shall be applied as follows: One third of such collections may be used solely for operating and administrative expenses of the district, but the remaining two thirds thereof shall be reserved as additional security for the payment of the refunding bonds, or for the purchase and retirement of such refunding bonds, at prices not exceeding par and accrued interest. History (1935, c. 469, s. 3.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 156-127
What does North Carolina General Statutes § 156-127 cover?
Section 156-127 ("Special fund set up; distribution of collections.") 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 § 156-127?
A common citation format is "North Carolina General Statutes § 156-127" (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 § 156-127 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.