1-324.4. Debts due corporation subject to execution; duty, etc., of agent.
If an officer holding an execution is unable to find other property belonging to the corporation liable to execution, he or the judgment creditor may elect to satisfy such execution in whole or in part out of any debts due the corporation, and it is the duty of any agent or person having custody of any evidence of such debt to deliver it to the officer, for the use of the creditor and such delivery, with a transfer to the officer in writing, for the use of the creditor and notice to the debtor, shall be a valid assignment thereof, and the creditor may sue for and collect the same in the name of the corporation, subject to such equitable set-offs on the part of the debtor as in other assignments. Every agent or person who neglects or refuses to comply with the provisions of this section and G.S. 1-324.2 is liable to pay to the execution creditor the amount due on the execution, with costs. (1901, c. 2, s. 68; Rev., s. 1216; C.S., s. 1204; 1955, c. 1371, s. 2.)
Structure North Carolina General Statutes
North Carolina General Statutes
§ 1-302 - Judgment enforced by execution.
§ 1-303 - Kinds of; signed by clerk; when sealed.
§ 1-304 - Against married woman.
§ 1-305 - Clerk to issue, in six weeks; penalty; limitations on issuance.
§ 1-306 - Enforcement as of course.
§ 1-307 - Issued from and returned to court of rendition.
§ 1-308 - To what counties issued.
§ 1-309 - Sale of land under execution.
§ 1-310 - When dated and returnable.
§ 1-312 - Rights against property of defendant dying in execution.
§ 1-314 - Variance between judgment and execution.
§ 1-315 - Property liable to sale under execution; bill of sale.
§ 1-316 - Sale of trust estates; purchaser's title.
§ 1-317 - Sheriff's deed on sale of equity of redemption.
§ 1-318 - Forthcoming bond for personal property.
§ 1-319 - Procedure on giving bond; subsequent levies.
§ 1-320 - Summary remedy on forthcoming bond.
§ 1-321 - Entry of returns on judgment docket; penalty.
§ 1-322 - Cost of keeping livestock; officer's account.
§ 1-323 - Purchaser of defective title; remedy against defendant.
§ 1-324.1 - Judgment against corporation; property subject to execution.
§ 1-324.2 - Agent must furnish information as to corporate officers and property.
§ 1-324.3 - Shares subject to execution; agent must furnish information.
§ 1-324.4 - Debts due corporation subject to execution; duty, etc., of agent.
§ 1-324.5 - Violations of three preceding sections misdemeanor.
§ 1-324.6 - Proceedings when custodian of corporate books is a nonresident.