North Carolina General Statutes 55-16-01.1. Definitions
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Terms Used In North Carolina General Statutes 55-16-01.1
- 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.
In this Article, the following definitions apply:
(1) Reserved.
(2) Reserved.
(3) Qualified shareholder. – A person who has been a shareholder in the corporation for at least six months immediately preceding the shareholder’s demand for inspection of records or who holds at least five percent (5%) of the corporation’s outstanding shares of any class.
(4) Shareholder. – A record shareholder or a beneficial shareholder whose shares are held in a voting trust or by a nominee on the beneficial shareholder’s behalf and whose beneficial ownership is certified to the corporation by that voting trust or nominee. ?(2021-106, s. 6(b).)