North Carolina § 159-138 - Cancellation of bonds and notes.

Full text of North Carolina North Carolina General Statutes § 159-138 — Cancellation of bonds and notes., with citation guidance and answers to common questions.

§ 159-138. Cancellation of bonds and notes.

Each bond or note and coupon shall be cancelled when (i) it is paid, or (ii) it is acquired by the issuing unit in any manner other than purchase for investment. A full report of the cancellation of all bonds, notes, and coupons shall be made to the secretary on forms provided by the Commission. History (1931, c. 60, s. 27; 1939, c. 356; 1971, c. 780, s. 1.)

Source: official North Carolina text · Last verified 2026-08-27

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Frequently Asked Questions About North Carolina § 159-138

What does North Carolina General Statutes § 159-138 cover?

Section 159-138 ("Cancellation of bonds and notes.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite North Carolina § 159-138?

A common citation format is "North Carolina General Statutes § 159-138" (North Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of North Carolina law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.

How does North Carolina § 159-138 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in North Carolina.