North Carolina § 1-407 - 2. When court may waive bond; premium paid from fund protected.
Full text of North Carolina North Carolina General Statutes § 1-407 — 2. When court may waive bond; premium paid from fund protected., with citation guidance and answers to common questions.
§ 1-407. 2. When court may waive bond; premium paid from fund protected.
The court, in its discretion, may waive the requirement of such bond in those cases in which the court requires the funds or proceeds from such sale to be paid by the purchaser or purchasers directly to the court. The premium for any such bond shall be paid from the corpus of the fund intended to be thereby protected. History (1957, c. 80.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 1-407
What does North Carolina General Statutes § 1-407 cover?
Section 1-407 ("2. When court may waive bond; premium paid from fund protected.") 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 § 1-407?
A common citation format is "North Carolina General Statutes § 1-407" (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 § 1-407 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.