2010 North Carolina Code
Chapter 23 Debtor and Creditor.
Article 1 - Assignments for Benefit of Creditors.
23-10. Priority of payments by trustee.
23‑10. Priority of payments by trustee.
The trustee, after paying the necessary costs of the administration of the trust, shall pay as speedily as possible
(1) All debts which are a lien upon any of the trust property in his hands, to the extent of the net proceeds of the property upon which such debt is a lien;
(2) Wages due to workmen, clerks, traveling or city salesmen, or servants, which have been earned within three months before registration of said deed of trust or deed of assignment, and
(3) All other debts equally ratable. (1909, c. 918, s. 5; C.S., s. 1618.)
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