NC H1779

Grants North Carolina community colleges expanded investment flexibility by allowing institutions to invest idle cash through registered investment advisors in addition to traditional county government investment options.

Permits investments with advisors registered with the Securities and Exchange Commission or North Carolina Secretary of State Securities Division and who are members of the Securities Investor Protection Corporation.

Maintains existing deposit options in official depositories through certificates of deposit and time deposits approved for county governments.

Clarifies that endowment funds may be invested under G.S. 147-69.2 and that institutions can deposit local funds with the State Treasurer as special trust funds.

Becomes effective July 1, 2010.