{"data":{"id":"us-nc/n.c.-gen.-stat.-147-70.2","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 147-70.2","heading":"Powers and duties of the Investment Authority.","body":"(a)\tIn addition to the authority granted to the Investment Authority under this Article or any other law, the Investment Authority shall have all of the powers necessary to execute the provisions of this Part, including, at a minimum, the following powers:\n(1)\tThe right to sue and be sued.\n(2)\tTo take, demand, receive, and possess all kinds of real and personal property necessary and proper for its purposes.\n(3)\tTo bargain, sell, grant, alienate, or dispose of all real and personal property as it may lawfully acquire.\n(b)\tThe Investment Authority shall have the right to acquire fidelity bonds, fiduciary insurance, directors' and officers' insurance, or errors and omissions coverage, as determined by the Investment Authority board. This right is independent of any purchase of insurance by the State Treasurer under G.S. 147-67.1.\n(c)\tPursuant to G.S. 143B-1320(b), the Investment Authority shall be exempt from the provisions of Article 15 of Chapter 143B of the General Statutes. (2025-6, s. 2.2.)","path":["Chapter 147. State Officers.","Article 6. Treasurer.","Part 4. North Carolina Investment Authority."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_147/GS_147-70.2.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:23:17Z","sha256":"30eb8eb8da381a152fed6ee3005db1276cb494bd1bbe8f7c44defd74fb60e1b9","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-147-70.1","next":"us-nc/n.c.-gen.-stat.-147-70.3"},"notice":"GroundRules: Original legal text. Not legal advice."}