North Carolina General Statutes 55-7-43. Stay of proceedings
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In North Carolina General Statutes 55-7-43
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- 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.
If the corporation commences an inquiry into the allegations set forth in the demand or complaint, the court may stay a derivative proceeding for a period of time the court deems appropriate. (1995, c. 149, s. 1.)