North Carolina General Statutes 116-41.14. Distinguished Professors Endowment Trust Fund; establishment; maintenance
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Terms Used In North Carolina General Statutes 116-41.14
- Board: means the Board of Governors of the University of North Carolina. See North Carolina General Statutes 116-2
There is established a Distinguished Professors Endowment Trust Fund to be maintained by the Board to provide challenge grants to the constituent institutions. All appropriated funds deposited into the trust fund shall be invested pursuant to N.C. Gen. Stat. § 116-36 Interest income accruing to that portion of the trust fund not matched shall increase the total funds available for challenge grants. (1985, c. 757, s. 202.)