North Carolina § 159-46 - Faith and credit pledged.
Full text of North Carolina North Carolina General Statutes § 159-46 — Faith and credit pledged., with citation guidance and answers to common questions.
§ 159-46. Faith and credit pledged.
The faith and credit of the issuing unit are hereby pledged for the payment of the principal of and interest on all bonds issued under this Article and debt instruments secured by a pledge of its faith and credit in accordance with the limitations and procedures prescribed in Chapter 159G of the General Statutes according to their terms, and the power and obligation of the issuing unit to levy taxes and raise other revenues for the prompt payment of installments of principal and interest or for the maintenance of sinking funds shall be unrestricted as to rate or amount, notwithstanding any other provisions of law whether general, special, local, or private. History (1971, c. 780, s. 1; 1987, c. 796, s. 2(2).) Cross References. - For statute authorizing counties, with the approval of the Local Government Commission, to avail themselves of the Federal Bankruptcy Act, see G.S. 23-48 .
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 159-46
What does North Carolina General Statutes § 159-46 cover?
Section 159-46 ("Faith and credit pledged.") 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 § 159-46?
A common citation format is "North Carolina General Statutes § 159-46" (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 § 159-46 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.