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NORTH CAROLINA STATUTES AND CODES
§ 54-109.68. Security.
§54‑109.68. Security.
In addition to generallyaccepted types of security, the endorsement of a note by a surety, comaker orguarantor, or assignment of shares, in a manner consistent with the laws ofthis State, shall be deemed security within the meaning of Articles 14A to 14Lof this Chapter. The adequacy of any security shall be determined by the boardof directors subject to Articles 14A to 14L of this Chapter and the bylaws. (1975,c. 538, s. 1.)
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