NC General Statutes

N.C. Gen. Stat. § 135-12 (2026)

Obligation of maintaining reserves and paying benefits

✓ current as of July 2026

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The maintenance of annuity reserves and pension reserves as provided for and regular interest creditable to the various funds as provided in G.S. 135-8, and the payment of all pensions, annuities, retirement allowances, refunds and other benefits granted under the provisions of this Chapter, are hereby made obligations of the pension accumulation fund. All income, interest and dividends derived from deposits and investments authorized by this Chapter shall be used for the payment of the said obligations of the said fund. (1941, c. 25, s. 12.)

§ 135-13: Repealed by Session Laws 2020-48, s. 1.12(b), effective June 26, 2020.

§ 135-14: Repealed by Session Laws 2020-48, s. 1.12(c), effective June 26, 2020.

§ 135-14.1: Repealed by Session Laws 2020-48, s. 1.12(d), effective June 26, 2020.

§ 135-15: Repealed by Session Laws 1949, c. 1056, s. 9.

§ 135-16: Repealed by Session Laws 2020-48, s. 1.12(e), effective June 26, 2020.

Notes of Decisions

Cited in 1 case, 2019–2019 · leading case: Lake v. State Health Plan For Teachers & State Emps., 825 S.E.2d 645 (N.C. Ct. App. 2019).

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Lake v. State Health Plan For Teachers & State Emps., 825 S.E.2d 645 (N.C. Ct. App. 2019). · cites it 2× “N.C. Gen. Stat. § 135-12 (2017) ; Bailey , 348 N.”

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