On and after June 1, 1955, the provisions of Article 2, Subchapter I of Chapter 105 of the N.C. Gen. Stat. of North Carolina shall apply to an association or corporation organized under the provisions of this Subchapter. (1921, c. 87, s. 29; C.S., s. 5259(p); 1955, c. 1313, s. 1.)

Terms Used In North Carolina General Statutes 54-143

  • 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.