North Carolina § 53-208 - 48. Permissible investments and statutory trust.
Full text of North Carolina North Carolina General Statutes § 53-208 — 48. Permissible investments and statutory trust., with citation guidance and answers to common questions.
§ 53-208. 48. Permissible investments and statutory trust.
Except as otherwise provided in this section, each licensee under this Article shall possess at all times unencumbered permissible investments having an aggregate market value, calculated in accordance with generally accepted accounting principles, of not less than the aggregate face amount of all outstanding transmission obligations. This requirement may be waived by the Commissioner if the dollar volume of a licensee's outstanding transmission obligations does not exceed the bond or other security devices posted by the licensee pursuant to G.S. 53 208.47. Permissible investments, even if commingled with other assets of the licensee, shall be deemed by operation of law to be held in trust for the benefit of the purchasers and holders of the licensee's outstanding payment instruments and stored value obligations in the event of the bankruptcy of the licensee. If the licensee possesses virtual currency as permissible investments under this Article, the Commissioner may at any time request that the licensee verify, in a manner acceptable to the Commissioner, aggregate virtual currency transmission obligations outstanding and virtual currency held as permissible investments, including virtual currency stored offline. History (2016-81, s. 1; 2017-102, s. 46; 2018-23, s. 2.) Editor's Note. - Session Laws 2016-81, s. 3, as amended by Session Laws 2017-102, s. 46, made this article effective October 1, 2016. Effect of Amendments. - Session Laws 2018-23, s. 2, effective June 22, 2018, in subsection (a), substituted "Except as otherwise provided in this section, each licensee" for "Each licensee"; and added subsection (c).
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 53-208
What does North Carolina General Statutes § 53-208 cover?
Section 53-208 ("48. Permissible investments and statutory trust.") 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 § 53-208?
A common citation format is "North Carolina General Statutes § 53-208" (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 § 53-208 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.