S.L. 1969-418

1969 SESSION

CHAPTER 418

HOUSE BILL 700

AN ACT TO PROVIDE A SUPPLEMENTAL WELFARE FUND FOR FIREMEN IN THE COUNTY OF FORSYTH.

The General Assembly of North Carolina do enact:

Section 1. Supplemental Welfare Fund Created. The Board of Trustees of the Local Firemen's Relief Fund of the County of Forsyth, as established in accordance with G.S. 118-6, hereinafter called the Board of Trustees, shall create and maintain a separate fund to be called the Forsyth County Firemen's Association of Supplemental Welfare Fund, hereinafter called the Supplemental Welfare Fund, and shall maintain books of account for such Fund separate from the books of account of the Firemen's Local Relief Fund of the County of Forsyth hereinafter called the Local Relief Fund. The Board of Trustees shall pay into the Supplemental Welfare Fund the funds prescribed by this Act.

Sec. 2. Transfers of Funds and Disbursements. Notwithstanding the provisions of G.S. 118-7, the Board of Trustees of the Local Firemen's Relief Fund of the Forsyth County Firemen's Association shall:

(a) transfer all Relief Funds credited to various Volunteer Fire Departments in Forsyth County to one Relief Fund.

(b) prior to June 30, 1969, transfer to the Supplemental Welfare Fund all funds, including earnings on investments of the Local Relief Fund in excess of Ten Thousand Dollars ($10,000.00);

(c) in each subsequent calendar year, and within thirty (30) days after receipt from the County Treasurer of the annual funds paid to the Local Relief Fund by authority of G.S. 118-5, transfer to the Supplemental Welfare Fund such funds;

(d) at the close of each calendar year when the amount of funds in the Local Relief Fund shall, by reason of disbursements authorized by G.S. 118-7, be less than Ten Thousand Dollars ($10,000.00), transfer from the Supplemental Welfare Fund an amount sufficient to maintain in the Local Relief Fund the sum of Ten Thousand Dollars ($10,000.00);

(e) as soon as practicable after June 30th of each year, but in no event later than December 31st, deposit the income earned in the preceding calendar year upon investments of funds belonging to the Supplemental Welfare Fund and upon investments of funds belonging to the Local Relief Fund into Forsyth County Firemen's Association Welfare Fund and disburse the same as supplemental benefits in accordance with Section 3 of this Act.

Sec. 3. It is the intention of this Act to assist any member of the Forsyth County Volunteer Firemen's Association who may be injured while performing his duties as a fireman or to provide funds to said members in extreme hardship cases.

Sec. 4. Investment of Funds. The Board of Trustees is hereby authorized to invest any funds, either of the Local Relief Fund or of the Supplemental Welfare Fund, in any investment named in or authorized by G.S. 159-28.1.

Sec. 5. Acceptance of Gifts. The Board of Trustees is hereby authorized to accept any gift, grant, bequest, or donation of money for the use of the Supplemental Welfare Fund.

Sec. 6. Bond of Treasurer. The Board of Trustees shall bond the Treasurer of the Local Relief Fund with a good and sufficient bond, in an amount at least equal to the amount of funds in his control, payable to the Board of Trustees, and conditioned upon the faithful performance of his duties; such bond shall be in lieu of the bond required by G.S. 118-6. The Board of Trustees shall pay from the income of the Local Fund the premiums on the bond of the Treasurer.

Sec. 7. If any provision of this Act shall be declared invalid by a court of competent jurisdiction, such invalidity shall not affect other provisions hereof which can be given effect without the invalid provision, and to this end the provisions of this Act are declared to be severable.

Sec. 8. All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 9. This Act shall be effective upon its ratification.

In the General Assembly read three times and ratified, this the 5th day of May, 1969.