§ 105-164.37. Bankruptcy, receivership, etc. - North Carolina Statutes

§105‑164.37.  Bankruptcy, receivership, etc.

If any taxpayer subject to theprovisions of this Article goes into bankruptcy, receivership or turns over hisstock of merchandise by voluntary transfer to creditors, the tax liabilityunder this Article shall constitute a prior lien upon such stock of merchandiseand shall become subject to levy under execution and it shall be the duty ofthe transferee in any such case to retain the amount of the tax due from thefirst sales of such stock of merchandise and pay the same to the Secretary. (1957,c. 1340, s. 5; 1973, c. 476, s. 193.)