There is a newer version of the North Carolina General Statutes
2015 North Carolina General Statutes
Chapter 159 - Local Government Finance.
Article 7 - Issuance and Sale of Bonds.
§ 159-138 - Cancellation of bonds and notes.
NC Gen Stat § 159-138 (2015) What's This?
159-138. Cancellation of bonds and notes.
Each bond or note and coupon shall be cancelled when (i) it is paid, or (ii) it is acquired by the issuing unit in any manner other than purchase for investment. A full report of the cancellation of all bonds, notes, and coupons shall be made to the secretary on forms provided by the Commission. (1931, c. 60, s. 27; 1939, c. 356; 1971, c. 780, s. 1.)
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