2010 North Carolina Code
Chapter 23 Debtor and Creditor.
Article 1 - Assignments for Benefit of Creditors.
23-7. Substituted trustee to give bond.
23‑7. Substituted trustee to give bond.
Upon the removal or resignation of any trustee it is the duty of the clerk to require the person appointed to execute the provisions of such deed of trust, before entering upon his duties, to file with the clerk a good and sufficient bond, to be approved by him in a sum double the value of the property in said deed of trust, payable to the State of North Carolina, and conditioned that such person shall faithfully execute and carry into effect the provisions of said deed of trust. (1893, c. 453, s. 3; Rev., s. 970; 1909, c. 918, s. 4; 1915, c. 176, s. 2; C.S., s. 1615.)
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