10A N.C. Admin. Code 97C.0110

Current through Register Vol. 39, No. 12, December 1, 2024

Section 97C .0110 - AUTHORITY OF PRIVATE GRANT RECIPIENTS

The grant recipient's charter or articles of incorporation and its by-laws shall provide sufficient legal authority to:

(1) receive and disburse funds;

(2) sue and be sued, complain and defend, in its corporate name;

(3) elect or appoint officers and agents of the corporation, and define their duties and fix their compensation;

(4) purchase, receive, lease, take by gift, or otherwise deal in and with, real or personal property or any interest therein, wherever situated;

(5) make contracts and incur liabilities, borrow money, and secure any of its obligations by mortgage or pledge of all or any of its property and income; and

(6) administer one or more programs that directly address the objectives of the Act.

10A N.C. Admin. Code 97C .0110

Authority G.S. 143B-10; 143B-276; 143B-277; 143-323(d);
Eff. December 1, 1983;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. April 25, 2015.

Authority G.S. 143B-10; 143B-276; 143B-277; 143-323(d);
Eff. December 1, 1983.