GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2011

SESSION LAW 2011-155

HOUSE BILL 58

AN ACT To provide that certain North Carolina community colleges may Opt Out of participation in the William D. Ford Federal Direct Loan Program.

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 115D-40.1 is amended by adding a new subsection to read:

"(e) Exception to Participation in Federal Loan Programs. - Notwithstanding subsection (d) of this section, the board of trustees of a college may adopt a resolution declining to participate in the William D. Ford Federal Direct Loan Program. The board of trustees of any college that has declined to participate in the William D. Ford Federal Direct Loan Program through the adoption of a resolution may rescind the resolution and participate in the Program but shall not have the authority to again decline participation in the Program."

SECTION 2.  This act applies only to Caldwell Community College and Technical Institute, Martin Community College, Rockingham Community College, and Sampson Community College.

SECTION 3.  This act becomes effective July 1, 2011.

In the General Assembly read three times and ratified this the 16^th day of June, 2011.

                                                                    s/  Walter H. Dalton

                                                                         President of the Senate

                                                                    s/  Thom Tillis

                                                                         Speaker of the House of Representatives