NORTH CAROLINA GENERAL ASSEMBLY

1975 SESSION

 

 

CHAPTER 55

HOUSE BILL 226

 

 

AN ACT TO AMEND G.S. 54-33.3(2) TO PROVIDE THAT STATE SAVINGS AND LOAN ASSOCIATIONS HAVE THE SAME POWERS WHICH HAVE BEEN GRANTED TO FEDERAL SAVINGS AND LOAN ASSOCIATIONS TO ACT AS TRUSTEE OF INDIVIDUAL RETIREMENT ACCOUNTS AS PROVIDED BY SECTION 408(a) OF THE INTERNAL REVENUE CODE.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 54-33.3(2) is hereby amended by adding after the phrase "section 401(d)" the following phrase: "or section 408(a)".

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

In the General Assembly read three times and ratified, this the 14th day of March, 1975.