78D-33. Affirmative defense.
It shall be a defense in any complaint, information, indictment, any writ or proceeding brought under this Chapter alleging a violation of G.S. 78D-2 based solely on the failure in an individual case to make physical delivery within the applicable time period under G.S. 78D-1(5) or G.S. 78D-4(a)(2) if the party asserting the defense sustains the burden of proof that:
(1) Failure to make physical 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, every person who directly or indirectly controls or is controlled by the seller, or any of them, the seller's affiliates, subsidiaries or successors; and
(2) Physical delivery was completed within a reasonable time under the applicable circumstances. (1989, c. 634, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 2 - Administration and Enforcement.
§ 78D-22 - Enforcement of Chapter.
§ 78D-23 - Power of court to grant relief.
§ 78D-24 - Criminal penalties.
§ 78D-25 - Administration of Chapter.
§ 78D-26 - Cooperation with other agencies.
§ 78D-27 - General authority to adopt rules, forms, and orders.
§ 78D-28 - Consent to service of process.
§ 78D-29 - Scope of the Chapter.
§ 78D-30 - Procedure for entry of an order.
§ 78D-31 - Judicial review of orders.