North Carolina General Statutes 55-7-40.1. Definitions
Current as of: 2023 | Check for updates
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In this Part:
(1) “Derivative proceeding” means a civil suit in the right of a domestic corporation or, to the extent provided in N.C. Gen. Stat. § 55-7-47, in the right of a foreign corporation.
(2) “Shareholder” has the same meaning as in N.C. Gen. Stat. § 55-1-40 and includes a beneficial owner whose shares are held in a voting trust or held by a nominee on the beneficial owner’s behalf. (1995, c. 149, s. 1.)
Terms Used In North Carolina General Statutes 55-7-40.1
- 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.