North Carolina General Statutes 131E-1. Definitions
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Terms Used In North Carolina General Statutes 131E-1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
As used in this Chapter, unless the context clearly indicates otherwise:
(1) “Department” means the Department of Health and Human Services.
(2) “Person” means an individual, trust, estate, partnership, or corporation including associations, joint-stock companies, and insurance companies. (1983, c. 775, s. 1; 1997-443, s. 11A.118(a).)