NC General Statutes

N.C. Gen. Stat. § 1-324.4 (2026)

Debts due corporation subject to execution; duty, etc., of agent

✓ current as of July 2026

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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.)

Notes of Decisions

Cited in 3 cases, 1980–2009 · leading case: Insulation Sys., Inc. v. Fisher, 678 S.E.2d 357 (N.C. Ct. App. 2009).

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Insulation Sys., Inc. v. Fisher, 678 S.E.2d 357 (N.C. Ct. App. 2009). · cites it 12× “” N.C. Gen. Stat. § 1-324.4 (2005) (emphasis added).”

Composite Tech., Inc. v. Advanced Composite Structures (USA), Inc., 563 S.E.2d 84 (N.C. Ct. App. 2002). · cites it 4× “” N.C. Gen. Stat. § 1-324.4 (2001). Further, a judgment creditor may discover information regarding corporate shares through section 1-324.”

Walker Mfg. Co. v. Dickerson, Inc., 510 F. Supp. 329 (W.D.N.C. 1980). “It appears without question that Edwards’ assignment of its judgment represents a loss to it of all rights and interests in the $97,000.”

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