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1961—Session Laws Ch. 263-264
S. B. 124 CHAPTER 263
AN ACT TO AMEND G. S. 58-79 TO PERMIT INVESTMENTS BY
LIFE INSURANCE COMPANIES IN ELECTRONIC AND ME-CHANICAL
MACHINES CONSTITUTING A DATA PROCESSING
AND ACCOUNTING SYSTEM IN NORTH CAROLINA.
The General Assembly of North Carolina do enact:
Section 1. Paragraph (a) of G. S. 58-79, as the same appears in the
1960 Replacement Volume 2B, is amended by renumbering the present
sub-paragraphs (12) and (13) as sub-paragraphs (13) and (14), respec-tively,
and by adding a new sub-paragraph (12) in lieu of the present
sub-paragraph (12) reading as follows:
"(12) Electronic and mechanical machines constituting a data process-ing
and accounting system if the cost of such system is at least twenty-five
thousand dollars ($25,000.00), but not more than two per cent (2%) of
its admitted assets, which cost shall be amortized in full over a period not
to exceed ten (10) calendar years."
Sec. 2. All laws and clauses of laws in conflict with this Act are hereby
repealed.
Sec. 3. This Act shall be in full force and effect on and after its
ratification.
In the General Assembly read three times and ratified, this the 25th
day of April, 1961.
S. B. 186 CHAPTER 264
AN ACT TO AMEND CHAPTER 642 OF THE 1959 SESSION LAWS
RELATING TO THE RESEARCH TRIANGLE REGIONAL PLAN-NING
COMMISSION.
The General Assembly of North Carolina do enact:
Section 1. The last paragraph of Section 3, subsection (e), of Chapter
642 of the 1959 Session Laws is hereby rewritten to read as follows:
"The Commission shall prepare an annual report of its activities and
shall distribute this report to all member counties and municipalities."
Sec. 2. Section 3 of Chapter 642 of the 1959 Session Laws is hereby
amended by adding to such Section subsection (g) which shall read as
follows
:
"(g) It shall be the duty of the Research Triangle Regional Planning
Commission to require the books and accounts of the treasurer of the
Commission to be audited annually by a certified public accountant or by
a public accountant registered under Chapter 93 of the General Statutes.
A copy of the annual audit shall be forwarded to each of the contributing
counties and municipalities."
Sec. 3. All laws and clauses of laws in conflict with this Act are hereby
repealed.
Sec. 4. This Act shall be in full force and effect from and after its
ratification.
In the General Assembly read three times and ratified, this the 25th
day of April, 1961.
401
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