§ 143-268. Official records turned over to Department of Natural and Cultural Resources; conversion of other assets into cash; allocation of assets to State agency or department.

The Secretary of Administration must receive delivered assets, transfer official records to the Department of Natural and Cultural Resources after liquidation purposes are complete, sell other assets for cash by public sale to the highest bidder, and deposit net sale proceeds with the State Treasurer. In discretion, th

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Jurisdiction: United States — North Carolina
Instrument: Act or statute
Version: Undated source snapshot
Language: en
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asset liquidation public sale records transfer state treasury deposit

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Provisions of § 143-268. Official records turned over to Department of Natural and Cultural Resources; conversion of other assets into cash; allocation of assets to State agency or department.

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143-268
§ 143-268. Official records turned over to Department of Natural and Cultural Resources; conversion of other assets into cash; allocation of assets to State agency or department.
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AI-assisted research summary: The Secretary of Administration must receive delivered assets, transfer official records to the Department of Natural and Cultural Resources after liquidation purposes are complete, sell other assets for cash by public sale to the highest bidder, and deposit net sale proceeds with the State Treasurer. In discretion, the Secretary may allocate some assets to a State agency or department if their sale is not needed to pay liquidation obligations.

The Secretary of Administration shall receive all such assets so delivered and, after they have served their purpose in the liquidation of the affairs of such board or agency, shall turn over all official records of such board or agency to the Department of Natural and Cultural Resources to be held pursuant to the statutes relating to such Department. The Secretary of Administration shall proceed to convert all other such assets into cash by public sale to the highest bidder, and shall deposit the net proceeds of any such sale with the State Treasurer: Provided, that the Secretary of Administration, in his discretion, may allocate to any State agency or department, the whole or any part of such assets, the sale of which is not required to discharge the obligations of the board or agency being liquidated. History: History.1949, c. 740, s. 2; 1973, c. 476, s. 48; 1975, c. 879, s. 46; 2015-241, s. 14.30(s).

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§ 143-268. Official records turned over to Department of Natural and Cultural Resources; conversion of other assets into cash; allocation of assets to State agency or department.

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Provisions of § 143-268. Official records turned over to Department of Natural and Cultural Resources; conversion of other assets into cash; allocation of assets to State agency or department.

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