§ 142-1. How bonds executed; interest coupons attached; where payable; not to be sold at less than par. - North Carolina Statutes

Chapter142.

State Debt.

Article 1.

General Provisions.

§ 142‑1.  How bondsexecuted; interest coupons attached; where payable; not to be sold at less thanpar.

All bonds or certificates ofdebt of the State shall be signed by the Governor, and countersigned by theState Treasurer, and sealed with the great seal of the State, and shall be madepayable to bearer unless registered as hereinafter provided. The principalshall be made payable by the State at a day named in the bonds or certificates.Interest coupons shall be attached to the bonds or certificates unless they bebonds or certificates registered as to both principal and interest, and thebonds, certificates and coupons shall be made payable at such banks or trustcompanies within or without the State as shall be designated by the StateTreasurer, or at the office of the State Treasurer in Raleigh. Any bank ortrust company serving as a paying agent may be paid such reasonable fees andcharges for such services as shall be agreed upon by and between such bank ortrust company and the State Treasurer. No original bond or certificate of debtof the State shall be sold for a sum less than the par value thereof, nor shallany such bond or certificate, issued in lieu of a transferred bond or certificate,be payable elsewhere than may be the original, except by the consent of theholder it may be made payable at the State treasury. (1848,c. 89, s. 22; 1852, c. 9; c. 10, s. 10; R.C., c. 90, s. 3; Code, s. 3563; Rev.,s. 5020; C.S., s. 7401; Ex. Sess. 1921, c. 66, ss. 1, 2; 1977, c. 405.)