North Carolina § 157-24 - Security for funds deposited by authorities.
Full text of North Carolina North Carolina General Statutes § 157-24 — Security for funds deposited by authorities., with citation guidance and answers to common questions.
§ 157-24. Security for funds deposited by authorities.
The authority may by resolution provide that All moneys deposited by it shall be secured by obligations of the United States or of the State of a market value equal at all times to the amount of such deposits or By any securities in which savings banks may legally invest funds within their control or By an undertaking with such sureties as shall be approved by the authority faithfully to keep and pay over upon the order of the authority any such deposits and agreed interest thereon, and all banks and trust companies are authorized to give any such security for such deposits. History (1935, c. 456, s. 24.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 157-24
What does North Carolina General Statutes § 157-24 cover?
Section 157-24 ("Security for funds deposited by authorities.") 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 § 157-24?
A common citation format is "North Carolina General Statutes § 157-24" (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 § 157-24 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.