8500

DEPOSITORIES

8500

The Board shall designate as official depositories of the school system one or more banks or trust companies in North Carolina. No money shall be deposited in any other place, bank, or trust company other than an official depository, except as permitted by G.S. 115-99.4(G), which exception relates only to time deposits as approved by the local government commission.

Legal Reference: G.S. 115-99.5 and G.S. 115-99.4(G)

Adopted: January 10, 1977