§ 156-44 Shares of stock annexed to land
§ 156-45 Shareholders to pay assessments
§ 156-46 Payment of dues entitles to use of canal
§ 156-47 Rights of infant owners protected
§ 156-48 Compensation for damage to lands
§ 156-49 Dissolution of corporation
§ 156-50 Laborer’s lien for work on canal
§ 156-51 Penalty for nonpayment of assessments
§ 156-52 Corporation authorized to issue bonds
§ 156-53 Payment of bonds enforced

Terms Used In North Carolina General Statutes > Chapter 156 > Article 4 - Rights and Liabilities in the Corporation

  • 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.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.