§ 142-5. Registration as to principal. - North Carolina Statutes

§142‑5.  Registration as to principal.

Upon the presentation at theoffice of the State Treasurer of any bond or certificate that has heretoforebeen or may hereafter be issued by the State, or upon the first issuance of anybond or certificate, the same may be registered as to principal in the name ofthe holder upon such register, such registration to be noted on the reverse ofthe bond or certificate by the State Treasurer. The principal of any bond orcertificate so registered shall be payable only to the registered payee or hislegal representative, and such bond or certificate shall be transferable toanother holder or back to bearer only upon presentation of the State Treasurerwith a written assignment acknowledged or approved in a form satisfactory tothe Treasurer. The name of the registered assignee shall be written in saidregister and upon any bond or certificate so transferred. A bond or certificateso transferred to bearer shall be subject to future registration and transferas before. (1883, c. 25; Code, s. 3568; 1887, c. 287; Rev., s.5025; C.S., s. 7405; Ex. Sess. 1921, c. 66, s. 4.)