§ 122D-17 – Bonds as legal investment and security for public deposits.
122D-17. Bonds as legal investment and security for public deposits. Obligations issued under the provisions of this Chapter are hereby made securities in which all public officers and public bodies of the State and its political subdivisions, all insurance companies, trust companies, banking associations, investment companies, executors, administrators, trustees and other fiduciaries may properly and […]
§ 122D-18 – Account and audits.
122D-18. Account and audits. (a) Subject to the provisions of any contract with the holders of its bonds, the Authority shall establish a system of accounts. (b) The Authority may cause an independent audit of its books and accounts to be prepared annually and the cost thereof may be paid from any available moneys of […]
§ 122D-19 – Cooperation of State agencies.
122D-19. Cooperation of State agencies. All State officers and agencies may render such services to the Authority within their respective functions as may be requested by the Authority. (1985 (Reg. Sess., 1986), c. 1011, s. 1; 1989, c. 500, s. 109(e); 1989 (Reg. Sess., 1990), c. 1074. s. 32(b).)
§ 122D-4 – North Carolina Agricultural Finance Authority.
122D-4. North Carolina Agricultural Finance Authority. (a) The North Carolina Agricultural Finance Authority, a body politic and corporate, is hereby created within the Department of Agriculture and Consumer Services. The Authority shall be constituted a public agency and an instrumentality of the State for the performance of essential public functions. (b) The Authority shall be […]
§ 122D-5 – Officers and employees; administration of Chapter.
122D-5. Officers and employees; administration of Chapter. (a) The Authority shall annually elect a chairman and vice-chairman from its members. (b) The Authority may appoint an Executive Director. The salary of the Executive Director shall be set by the General Assembly in the Current Operations Appropriations Act. (c) The Executive Director shall administer and enforce […]
§ 122D-6 – General powers of Authority.
122D-6. General powers of Authority. The Authority shall have all the powers necessary to give effect to and carry out the purposes and provisions of this Chapter, including the following powers in addition to all other powers granted by other provisions of this Chapter, to: (1) Sue and be sued in its own name and […]
§ 122D-7 – Purchases and sales of agricultural loans.
122D-7. Purchases and sales of agricultural loans. The Authority may purchase or contract to purchase and sell or contract to sell agricultural loans made by lending institutions. All lending institutions are hereby authorized to purchase and sell agricultural loans to the Authority in accordance with the provisions of this Chapter and the rules and regulations […]
§ 122D-8 – Loans to and deposits with lending institutions.
122D-8. Loans to and deposits with lending institutions. The Authority may make, or contract to make, loans to and deposits with lending institutions. All lending institutions may borrow funds and accept deposits from the Authority in accordance with the provisions of this Chapter and the rules and regulations of the Authority. The Authority shall require […]
§ 122D-9 – Insurance of agricultural loans.
122D-9. Insurance of agricultural loans. (a) The Authority may insure and reinsure agricultural loans made by lending institutions, subject to the terms, conditions, limitations, collateral and security provisions, and reserve requirements as shall be determined by the Authority in accordance with the rules adopted by the Authority. (b) Unless otherwise determined by the Authority, insurance […]
§ 122D-10 – Bonds of the Authority.
122D-10. Bonds of the Authority. (a) The Authority may issue from time to time bonds, notes, bond anticipation notes, renewal notes, refunding bonds, interim certificates, certificates of indebtedness, debentures, warrants, commercial paper or other obligations or evidences of indebtedness, hereinafter collectively referred to as "bonds", to provide funds for and to fulfill and achieve its […]