{"data":{"id":"us-nc/n.c.-gen.-stat.-140-5.16","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 140-5.16","heading":"Gifts; special fund; exemption from taxation.","body":"(a)\tAll gifts of money to the North Carolina Museum of Art and all interest earned thereon shall be paid into the State treasury and maintained as a fund to be designated \"The North Carolina Museum of Art Special Fund.\"\n(b)\tAll gifts made to the North Carolina Museum of Art shall be exempt from every form of taxation including, but not by way of limitation, ad valorem, intangible, gift, inheritance, and income taxation. (1961, c. 731; 1979, 2nd Sess., c. 1306, s. 1.)","path":["Chapter 140. State Art Museum; Symphony and Art Societies.","Article 1B. North Carolina Museum of Art."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_140/GS_140-5.16.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:22:12Z","sha256":"388b752b6112dddf05dcd6dfc06b9707966e9fcb658a26356e1167764c1cfca7","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-140-5.15","next":"us-nc/n.c.-gen.-stat.-140-5.17"},"notice":"GroundRules: Original legal text. Not legal advice."}