North Carolina General Statutes 54C-7. Application of Chapter on business corporations
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All law relating to private corporations, and particularly the North Carolina Business Corporation Act, Chapter 55 of the N.C. Gen. Stat., that is not inconsistent with this Chapter or with the proper business of depository institutions is applicable to all State savings banks. (1991, c. 680, s. 1.)
Terms Used In North Carolina General Statutes 54C-7
- 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