H97 - 2015 Appropriations Act, Sec. 11.2: Amend Regulation of The University of North Carolina Institutional Trust Funds and Funds of The University of North Carolina Health Care System (SL 2015-241)

Overview: Sec. 11.2 of S.L. 2015-241 requires that institutional trust fund cash balances placed by a chancellor of a constituent institution of The University of North Carolina on deposit with a bank in the form of traditional demand or time deposits must be secured by deposit insurance, surety bonds, or investment securities satisfying the rules or regulations prescribed by the State Treasurer.

This section became effective July 1, 2015.