North Carolina § 115C-494 Property and income of board of trustees exempt from State taxation

North Carolina Statutes

§ 115C-494 — Property and income of board of trustees exempt from State taxation

North Carolina § 115C-494

Ch. 115CElementary and Secondary Education

Art. 35Voluntary Endowment Fund for Public Schools

Subch. VIIFISCAL AFFAIRS

This text of North Carolina § 115C-494 (Property and income of board of trustees exempt from State taxation) is published on Counsel Stack Legal Research, covering North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.C. Gen. Stat. § 115C-494 (2026).

Text

All property received, purchased, contributed or donated to the board of trustees for the benefit of any endowment fund created hereunder and all donations, gifts and devises received or otherwise administered for the benefit of said endowment fund, as well as the principal and income from said endowment fund, shall at all times be free from taxation, of any nature whatsoever, within the State. (1961, c. 970; 1981, c. 423, s. 1; 2011-284, s. 81.)
§§ 115C-495 through 115C-499. Reserved for future codification purposes.

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All property received, purchased, contributed or donated to the board of trustees for the benefit of any endowment fund created hereunder and all donations, gifts and devises received or otherwise administered for the benefit of said endowment fund, as well as the principal and income from said endowment fund, shall at all times be free from taxation, of any nature whatsoever, within the State. (1961, c. 970; 1981, c. 423, s. 1; 2011-284, s. 81.)
§§ 115C-495 through 115C-499. Reserved for future codification purposes.