NORTH CAROLINA GENERAL ASSEMBLY

1965 SESSION

 

 

CHAPTER 991

SENATE BILL 387

 

 

AN ACT TO AMEND G.S. 8-47 CONCERNING THE PRESENT WORTH OF ANNUITIES.

 

The General Assembly of North Carolina do enact:

 

Section 1.  G.S. 8-47 is hereby amended by adding thereto a new paragraph to read as follows:

"Whenever the mortuary tables set out in G.S. 8-46 are admissible in evidence in any action or proceeding to establish the expectancy of continued life of any person from any period of such person's life, whether he be living at the time or not, the annuity tables herein set forth shall be evidence, but not conclusive, of the loss of income during the period of life expectancy of such person."

Sec. 1 1/2.  To rewrite the last proviso of G.S. 8-47 to read as follows:

"Provided, the interest rate in computing the present cash value of a life interest in land shall be six per cent (6%)."

Sec. 2.  All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 3.  This Act shall become effective upon its ratification.

In the General Assembly read three times and ratified, this the 14th day of June, 1965.