§ 58-75-1. Deposit of cash or securities in lieu of bond; conditions and requirements. - North Carolina Statutes

Article75.

Deposit in Lieu of Bond.

§ 58‑75‑1. Deposit of cash or securities in lieu of bond; conditions and requirements.

In lieu of any writtenundertaking or bond required by law in any matter, before any court of theState, the party required to make such undertaking or bond may make a depositin cash or securities of the State of North Carolina or of the United States ofAmerica, of the amount required by law or, in the case of fiduciaries, of theamount of the trust, in lieu of the said undertaking or bond and such depositshall be subject to all of the same conditions and requirements as are providedfor in written undertakings or bonds, in lieu of which such deposit is made. (1923,c. 58; C.S., s. 352(a); 1947, c. 936.)