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2015 North Carolina General Statutes
Chapter 159 - Local Government Finance.
Article 3 - The Local Government Budget and Fiscal Control Act.
§ 159-38 - Local units authorized to accept their bonds in payment of certain claims and judgments.

NC Gen Stat § 159-38 (2015) What's This?

159-38. Local units authorized to accept their bonds in payment of certain claims and judgments.

Any unit of local government or public authority may accept its own bonds, at par, in settlement of any claim or judgment that it may have against any person, firm, corporation, or association due to funds held in an insolvent bank, trust company, or savings and loan association. (1933, c. 376; 1971, c. 780, s. 1.)


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