§ 160A-276. Sale of stocks, bonds, and other securities. - North Carolina Statutes

§ 160A‑276.  Saleof stocks, bonds, and other securities.

A city may sell through a broker without complying with the precedingsections of this Article shares of common and preferred stock, bonds, options,and warrants or other rights with respect to stocks and bonds, and othersecurities, when the stock, bond, or other right or security has an establishedmarket and is traded in the usual course of business on a national stockexchange or over‑the‑counter by reputable brokers and securitiesdealers. The city may pay the usual fees and taxes incident to suchtransactions. Nothing in this section authorizes a city to deal in its ownbonds in any manner inconsistent with Chapter 159 of the General Statutes, norto invest in any securities not authorized by G.S. 159‑30. (1973, c. 426, s. 44.)