21 NCAC 68 .0225 SUSPENSION OF AUTHORITY AND ESCROW OF FUNDS
The Board shall file the annual reports set forth in G.S. 93B-2 no later than October 31 of each year. In the event the Board fails to file the reports as required by G.S. 93B-2 and the Board's authority to expend any funds is suspended until such time as the Board files the required reports, the Board shall deposit any fees or funds received during the period of suspension into an escrow account established by the Board solely for this purpose.
History Note: Authority G.S. 90-113.30; 90-113.33; 93B-2;
Eff. April 1, 2011.