The following definitions apply in this Chapter:

(1) “Corporation” or “domestic corporation” is defined in N.C. Gen. Stat. § 55-1-40(4).

Terms Used In North Carolina General Statutes 55D-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.
  • following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.

(2) “Deliver” is defined in N.C. Gen. Stat. § 55-1-40(5).

(3) “Entity” is defined in N.C. Gen. Stat. § 55-1-40(9).

(4) “Foreign corporation” is defined in N.C. Gen. Stat. § 55-1-40(10).

(5) “Foreign limited liability company” has the same meaning as the term “foreign LLC” in N.C. Gen. Stat. § 57D-1-03.

(5a) “Foreign limited liability limited partnership” is defined in N.C. Gen. Stat. § 59-102(4c).

(6) “Foreign limited liability partnership” is defined in N.C. Gen. Stat. § 59-32(4g).

(7) “Foreign limited partnership” is defined in N.C. Gen. Stat. § 59-102(5).

(8) “Foreign nonprofit corporation” means a foreign corporation as defined in N.C. Gen. Stat. § 55A-1-40(11).

(9) “Individual” is defined in N.C. Gen. Stat. § 55-1-40(13).

(10) “Limited liability company” or “domestic limited liability company” has the same meaning as the term “LLC” in N.C. Gen. Stat. § 57D-1-03.

(11) “Limited liability limited partnership” is defined in N.C. Gen. Stat. § 59-102(6a).

(12) “Limited liability partnership” or “registered limited liability partnership” means a registered limited liability partnership as defined in N.C. Gen. Stat. § 59-32(7).

(13) “Limited partnership” or “domestic limited partnership” is defined in N.C. Gen. Stat. § 59-102(8).

(14) “Nonprofit corporation” or “domestic nonprofit corporation” means a corporation as defined in N.C. Gen. Stat. § 55A-1-40(5).

(15) “Person” is defined in N.C. Gen. Stat. § 55-1-40(16). (2001-358, s. 1; 2001-387, ss. 161, 173, 175(a); 2001-413, s. 6; 2013-157, s. 6.)

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