North Carolina General Statutes 58-47-105. Dividends and other distributions
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Terms Used In North Carolina General Statutes 58-47-105
- Continuance: Putting off of a hearing ot trial until a later time.
(a) Group dividends and other distributions shall be made in accordance with N.C. Gen. Stat. § 58-7-130, 58-8-25(b), and 58-19-30. A group shall be in compliance with this Part before payment of dividends or other distributions to its members. No group shall pay dividends or other distributions to its members until two years after the group’s licensing date.
(b) Payment of dividends to the members of any group shall not be contingent upon the maintenance or continuance of membership in the group. (1997-362, s. 3.)