NORTH CAROLINA GENERAL ASSEMBLY

1977 SESSION

CHAPTER 1070

HOUSE BILL 1238

AN ACT TO AMEND THE GENERAL STATUTES OF NORTH CAROLINA TO PROVIDE FOR REPAYMENT OF THE PARTICIPATING INSTITUTIONS' PROPORTIONATE SHARE UPON REPURCHASE OF HIS CONTRACT BY A MEMBER IN THE UNIVERSITIES' OPTIONAL RETIREMENT PLAN.

The General Assembly of North Carolina enacts:

Section 1.  G.S. 135-5.1(b)(5), as the same appears in the 1974 Replacement Volume, is hereby amended by inserting in line 5 after the word "the" and before the word "participating" the following: "value of the accumulation attributable to the".

Sec. 2.  This act shall become effective upon ratification.

In the General Assembly read three times and ratified, this the 1st day of July, 1977.