North Carolina § 87-7 - Records of Board; disposition of funds.
Full text of North Carolina North Carolina General Statutes § 87-7 — Records of Board; disposition of funds., with citation guidance and answers to common questions.
§ 87-7. Records of Board; disposition of funds.
The secretary-treasurer shall keep a record of the proceedings of the said Board and shall receive and account for all moneys derived from the operation of this Article. Any funds remaining in the hands of the secretary-treasurer to the credit of the Board after the expenses of the Board for the current year have been paid shall be paid over to the Greater University of North Carolina for the use of the School of Engineering through the North Carolina Engineering Foundation. The Board has the right, however, to retain at least ten percent (10%) of the total expense it incurs for a year's operation to meet any emergency that may arise. As an expense of the Board, said Board is authorized to expend such funds as it deems necessary to provide retirement and disability compensation for its employees. History (1925, c. 318, s. 7; 1953, c. 805, s. 1; 1959, c. 1184.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 87-7
What does North Carolina General Statutes § 87-7 cover?
Section 87-7 ("Records of Board; disposition of funds.") 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 § 87-7?
A common citation format is "North Carolina General Statutes § 87-7" (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 § 87-7 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.