§ 14-401.7. Persons, firms, banks and corporations dealing in securities on commission taxed as a private banker. - North Carolina Statutes

§14‑401.7.  Persons, firms, banks and corporations dealing in securitieson commission taxed as a private banker.

No person, bank, orcorporation, without a license authorized by law, shall act as a stockbroker orprivate banker.  Any person, bank, or corporation that deals in foreign ordomestic exchange certificates of debt, shares in any corporation or chartercompanies, bank or other notes, for the purpose of selling the same or anyother thing for commission or other compensation, or who negotiates loans uponreal estate securities, shall be deemed a security broker.  Any person, bank,or corporation engaged in the business of negotiating loans on any class ofsecurity or in discounting, buying or selling negotiable or other papers orcredits, whether in an office for the purpose or elsewhere shall be deemed tobe a private banker.  Any person, firm, or corporation violating this sectionshall be guilty of a Class 3 misdemeanor and pay a fine of not less than onehundred ($100.00) nor more than five hundred dollars ($500.00) for eachoffense. (1939, c. 310, s. 1004; 1953, c. 970, s. 9; 1993, c.539, s. 277; 1994, Ex. Sess., c. 24, s. 14(c).)