(a)        If the Secretary of State determines that one or more grounds exist under N.C. Gen. Stat. § 55-14-20 for dissolving a corporation, he shall mail the corporation written notice of his determination.

(b)        If the corporation does not correct each ground for dissolution or demonstrate to the reasonable satisfaction of the Secretary of State that each ground determined by the Secretary of State does not exist within 60 days after notice is mailed, the Secretary of State shall administratively dissolve the corporation by signing a certificate of dissolution that recites the ground or grounds for dissolution and its effective date.? The Secretary of State shall file the original of the certificate and mail a copy to the corporation.

(c)        The provisions of N.C. Gen. Stat. § 55-14-05, 55-14-06, and 55-14-07 apply to a corporation administratively dissolved.

(d)       The administrative dissolution of a corporation does not terminate the authority of its registered agent. (1989, c. 265, s. 1.)

Terms Used In North Carolina General Statutes 55-14-21

  • 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.
  • state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
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