North Carolina General Statutes > Chapter 23 > Article 6 – Practice in Insolvency and Certain Other Proceedings
Current as of: 2023 | Check for updates
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Other versions
| § 23-46 | Unlawful to solicit claims of creditors in proceedings |
| § 23-47 | Violation of preceding section a misdemeanor |
Terms Used In North Carolina General Statutes > Chapter 23 > Article 6 - Practice in Insolvency and Certain Other Proceedings
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- 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.