There is a newer version of the North Carolina General Statutes
2005 North Carolina Code - General Statutes § 54-69. Bonds as payment.
§ 54‑69. Bonds as payment.
If the association gives notice to a debtor for repayment of the mortgage loan the latter must pay to the association in cash or in its bonds at par the face of the same so far as it has not yet been covered by his assets in the amortization and payments. (1925, c. 223, s. 21.)
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