North Carolina § 140-5.16 Gifts; special fund; exemption from taxation

North Carolina Statutes

§ 140-5.16 — Gifts; special fund; exemption from taxation

North Carolina § 140-5.16

Ch. 140State Art Museum; Symphony and Art Societies

Art. 1BNorth Carolina Museum of Art

This text of North Carolina § 140-5.16 (Gifts; special fund; exemption from 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. § 140-5.16 (2026).

Text

(a)All gifts of money to the North Carolina Museum of Art and all interest earned thereon shall be paid into the State treasury and maintained as a fund to be designated "The North Carolina Museum of Art Special Fund."

(b)All gifts made to the North Carolina Museum of Art shall be exempt from every form of taxation including, but not by way of limitation, ad valorem, intangible, gift, inheritance, and income taxation. (1961, c. 731; 1979, 2nd Sess., c. 1306, s. 1.) § 140-5.17: Repealed by Session Laws 2007-484, s. 19, effective August 30, 2007.

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(a) All gifts of money to the North Carolina Museum of Art and all interest earned thereon shall be paid into the State treasury and maintained as a fund to be designated "The North Carolina Museum of Art Special Fund."
(b) All gifts made to the North Carolina Museum of Art shall be exempt from every form of taxation including, but not by way of limitation, ad valorem, intangible, gift, inheritance, and income taxation. (1961, c. 731; 1979, 2nd Sess., c. 1306, s. 1.)
§ 140-5.17: Repealed by Session Laws 2007-484, s. 19, effective August 30, 2007.