GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2001

 

 

SESSION LAW 2001-182

SENATE BILL 259

 

 

AN ACT to amend the securities dealer registration statutes to abolish the church bond dealer restriction.

 

 

The General Assembly of North Carolina enacts:

 

SECTION 1.  G.S. 78A-36(a) reads as rewritten:

"(a)      It is unlawful for any person to transact business in this State as a dealer or salesman unless he is registered under this Chapter. No dealer shall be eligible for registration under this Chapter, or for renewal of registration hereunder, unless such dealer is at the time registered as a dealer with the Securities and Exchange Commission under the Securities Exchange Act of 1934; any dealer specializing in church securities may be registered to offer or sell only those securities which are issued by churches located within this State. 1934."

SECTION 2.  This act is effective when it becomes law.

In the General Assembly read three times and ratified this the 31st day of May, 2001.

 

 

                                                                    s/ Beverly E. Perdue

                                                                         President of the Senate

 

 

                                                                    s/ James B. Black

                                                                         Speaker of the House of Representatives

 

 

                                                                    s/ Michael F. Easley

                                                                         Governor

 

 

Approved 12:10 p.m. this 7th day of June, 2001