{"data":{"id":"us-nc/n.c.-gen.-stat.-53-408","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 53-408","heading":"Payment to creditors.","body":"Payment to a creditor of the selling institution of the amount to be paid under the terms of a contract of agency described in G.S. 53-407 may be made by the purchasing trust company by (i) opening an agency account in the name of the creditor; (ii) crediting the account with the amount to be paid the creditor under the terms of the agency contract; and (iii) mailing or personally delivering a duplicate ticket evidencing the credit to the creditor at the creditor's address shown in the records of the selling institution. (2001-263, s. 1.)","path":["Chapter 53. Regulation of Financial Services.","Article 24. Trust Companies and Interstate Trust Business.","Part 5. Dissolution and Receivership; Conservatorship; Jeopardized State Trust Companies."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_53/GS_53-408.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:05:12Z","sha256":"153045c8d62d08d482380939484b087844710f3e933f151fd7eefd66b6d6f5af","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-53-407","next":"us-nc/n.c.-gen.-stat.-53-409"},"notice":"GroundRules: Original legal text. Not legal advice."}