§ 159-38. Local units authorized to accept their bonds in payment of certain claims and judgments.
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/nc/chapter-159/159-38A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 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.)