NC S795

Renames the Laurinburg-Maxton Airport Commission to the Southeast Regional Airport Authority, with the airport name remaining unchanged.

Increases board membership from 7 to 8 members: 3 from City of Laurinburg, 3 from Town of Maxton, 1 from Scotland County, and the Scotland County Economic Development Director as a nonvoting ex officio member.

Members serve two-year staggered terms with a limit of two successive terms, except the Economic Development Director who may serve unlimited terms; board elects its own chair, vice-chair, and secretary annually.

Grants the Authority extensive powers including purchasing, leasing, and operating airports; making contracts; charging fees; issuing bonds; acquiring property by eminent domain; and employing necessary staff.

Authority receives same tax exemptions as municipal corporations, must submit annual reports to the City of Laurinburg, Town of Maxton, and Scotland County Board of Commissioners, and cannot pledge the credit of these entities without express legal authority.