State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_78D > GS_78D-33

§78D‑33.  Affirmative defense.

It shall be a defense in anycomplaint, information, indictment, any writ or proceeding brought under thisChapter alleging a violation of G.S. 78D‑2 based solely on the failure inan individual case to make physical delivery within the applicable time periodunder G.S. 78D‑1(5) or G.S. 78D‑4(a)(2) if the party asserting thedefense sustains the burden of proof that:

(1)        Failure to makephysical delivery was due solely to factors beyond the control of the seller,the seller's officers, directors, partners, agents, servants or employees,every person occupying a similar status or performing similar functions, everyperson who directly or indirectly controls or is controlled by the seller, orany of them, the seller's affiliates, subsidiaries or successors; and

(2)        Physical deliverywas completed within a reasonable time under the applicable circumstances. (1989,c. 634, s. 1.)