{"data":{"id":"us-nc/n.c.-gen.-stat.-39-23.9b","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 39-23.9B","heading":"Application to series organization.","body":"(a)\tIn this section, the following definitions apply:\n(1)\tProtected series. - An arrangement, however denominated, created by a series organization that, pursuant to the law under which the series organization is organized, has the characteristics set forth in subdivision (2) of this subsection.\n(2)\tSeries organization. - An organization that, pursuant to the law under which it is organized, has all the following characteristics:\na.\tThe organic record of the organization provides for creation by the organization of one or more protected series, however denominated, with respect to specified property of the organization, and for records to be maintained for each protected series that identify the property of or associated with the protected series.\nb.\tDebt incurred or existing with respect to the activities of, or property of or associated with, a particular protected series is enforceable against the property of or associated with the protected series only, and not against the property of or associated with the organization or other protected series of the organization.\nc.\tDebt incurred or existing with respect to the activities or property of the organization is enforceable against the property of the organization only, and not against the property of or associated with a protected series of the organization.\n(b)\tA series organization and each protected series of the organization is a separate person for purposes of this Article, even if for other purposes a protected series is not a person separate from the organization or other protected series of the organization. (2015-23, s. 1.)","path":["Chapter 39. Conveyances.","Article 3A. Uniform Voidable Transactions Act."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_39/GS_39-23.9B.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:02:02Z","sha256":"640ea73f25aacb3e817b5d663df4797cdcb0e7c94283900e52ed028265774923","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-39-23.9a","next":"us-nc/n.c.-gen.-stat.-39-23.10"},"notice":"GroundRules: Original legal text. Not legal advice."}