§ 23-1. Debts mature on execution of assignment; no preferences. - North Carolina Statutes

Chapter23.

Debtor and Creditor.

Article 1.

Assignments for Benefitof Creditors.

§ 23‑1.  Debts mature onexecution of assignment; no preferences.

Upon the execution of anyvoluntary deed of trust or deed of assignment for the benefit of creditors, alldebts of the maker thereof shall become due and payable at once, and no suchdeed of trust or deed of assignment shall contain any preferences of onecreditor over another, except as hereinafter stated. (1893,c. 453; Rev., s. 967; 1909, c. 918, s. 1; C.S., s. 1609.)