§ 25-8-112. Creditor's legal process. - North Carolina Statutes

§25‑8‑112.  Creditor's legal process.

(a)        The interest of adebtor in a certificated security may be reached by a creditor only by actualseizure of the security certificate by the officer making the attachment orlevy, except as otherwise provided in subsection (d) of this section. However,a certificated security for which the certificate has been surrendered to theissuer may be reached by a creditor by legal process upon the issuer.

(b)        The interest of adebtor in an uncertificated security may be reached by a creditor only by legalprocess upon the issuer at its chief executive office in the United States,except as otherwise provided in subsection (d) of this section.

(c)        The interest of adebtor in a security entitlement may be reached by a creditor only by legalprocess upon the securities intermediary with whom the debtor's securitiesaccount is maintained, except as otherwise provided in subsection (d) of thissection.

(d)        The interest of adebtor in a certificated security for which the certificate is in thepossession of a secured party, or in an uncertificated security registered inthe name of a secured party, or a security entitlement maintained in the nameof a secured party, may be reached by a creditor by legal process upon thesecured party.

(e)        A creditor whosedebtor is the owner of a certificated security, uncertificated security, orsecurity entitlement is entitled to aid from a court of competent jurisdiction,by injunction or otherwise, in reaching the certificated security, uncertificatedsecurity, or security entitlement or in satisfying the claim by means allowedat law or in equity in regard to property that cannot readily be reached byother legal process. (1997‑181, s. 1.)