2005 North Carolina Code - General Statutes § 23-6. Trustee removed on petition of creditors; substitute appointed.

§ 23‑6.  Trustee removed on petition of creditors; substitute appointed.

Upon the written petition of one‑fourth of the number of the creditors of the grantor or assignor whose claims aggregate more than fifty per cent of the total indebtedness of said grantor or assignor, the clerk of the superior court of the county in which said deed of trust or deed of assignment is registered, upon a notice of not more than ten days to said trustee of said petition, shall remove said trustee and appoint some competent person to execute the provisions of such deed of trust or deed of assignment. (1909, c. 918, s. 3; C.S., s. 1614.)