10A NCAC 97C .0110      AUTHORITY OF PRIVATE GRANT RECIPIENTS

The grant recipient's charter or articles of incorporation and its by‑laws shall provide sufficient legal authority to:

(1)           receive and disburse funds;

(2)           sue and be sued, complain and defend, in its corporate name;

(3)           elect or appoint officers and agents of the corporation, and define their duties and fix their compensation;

(4)           purchase, receive, lease, take by gift, or otherwise deal in and with, real or personal property or any interest therein, wherever situated;

(5)           make contracts and incur liabilities, borrow money, and secure any of its obligations by mortgage or pledge of all or any of its property and income; and

(6)           administer one or more programs that directly address the objectives of the Act.

History Note:        Authority G.S. 143B‑10; 143B‑276; 143B‑277; 143‑323(d);

Eff. December 1, 1983;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. April 25, 2015.