2010 North Carolina Code
Chapter 23 Debtor and Creditor.
Article 1 - Assignments for Benefit of Creditors.
23-1. Debts mature on execution of assignment; no preferences.
23‑1. Debts mature on execution of assignment; no preferences.
Upon the execution of any voluntary deed of trust or deed of assignment for the benefit of creditors, all debts of the maker thereof shall become due and payable at once, and no such deed of trust or deed of assignment shall contain any preferences of one creditor over another, except as hereinafter stated. (1893, c. 453; Rev., s. 967; 1909, c. 918, s. 1; C.S., s. 1609.)
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