(a)        In this section, the following rules determine a debtor’s location:

(1)        A debtor who is an individual is located at the individual’s principal residence.

(2)        A debtor that is an organization and has only one place of business is located at its place of business.

(3)        A debtor that is an organization and has more than one place of business is located at its chief executive office.

(b)        A claim for relief in the nature of a claim for relief under this Article is governed by the local law of the jurisdiction in which the debtor is located when the transfer is made or the obligation is incurred. ?(2015-23, s. 1.)

Terms Used In North Carolina General Statutes 39-23.9A

  • following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
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