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North Carolina General Statutes Chapter 159. Local Government Finance § 159-42.1. Establishment of nonprofit corporation by public authority authorized

Current as of January 01, 2023 | Updated by Findlaw Staff

A public authority may establish, control, and operate a nonprofit corporation that is created under Chapter 55A of the General Statutes and is a tax-exempt organization under the Internal Revenue Code to further the authorized purposes of the public authority. A nonprofit corporation established as provided in this section shall not have regulatory or enforcement powers and shall not engage in partisan political activity.

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Cite this article: FindLaw.com - North Carolina General Statutes Chapter 159. Local Government Finance § 159-42.1. Establishment of nonprofit corporation by public authority authorized - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-159-local-government-finance/nc-gen-st-sect-159-42-1/

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