State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_1 > GS_1-339_34

§1‑339.34.  Private sale; exception; certain personal property.

(a)        Notwithstanding anyprovisions of this Article, property described below may be sold at privatesale at the current market price after first obtaining an order of sale:

(1)        Property consistingof stocks, bonds or other securities the current market value of which isestablished by sales on any stock or securities exchange supervised orregulated by the United States government or any other of its agencies ordepartments, or

(2)        Property consistingof stocks, bonds or other securities which are not sold on any stock orsecurities exchange supervised or regulated by the United States government orany other of its agencies or departments, but which are found by the judge orclerk having jurisdiction to have a known or readily ascertainable marketvalue, or

(3)        Property consistingof cattle, hogs, or other livestock, or cotton, corn, tobacco, peanuts or otherfarm commodities or produce, found by the judge or clerk having jurisdiction tohave a known or readily ascertainable market value.

(b)        Property determinedby the judge or clerk having jurisdiction to be perishable property becausesubject to rapid deterioration may be sold at private sale after firstobtaining an order of sale.

(c)        Any sale madepursuant to this section is not subject to an upset bid, and is not required tobe confirmed, but such sale is final. (1949, c. 719, s. 1.)