§ 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.
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.