GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION LAW 2001-182
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