§ 55-8-01 Requirement for and duties of board of directors
§ 55-8-02 Qualifications of directors
§ 55-8-03 Number and election of directors
§ 55-8-04 Election of directors by certain classes of shareholders
§ 55-8-05 Terms of directors generally
§ 55-8-06 Staggered terms for directors
§ 55-8-07 Resignation of directors
§ 55-8-08 Removal of directors by shareholders
§ 55-8-09 Removal of directors by judicial proceeding
§ 55-8-10 Vacancy on board
§ 55-8-11 Compensation of directors
§ 55-8-20 Meetings
§ 55-8-21 Action without meeting
§ 55-8-22 Notice of meeting
§ 55-8-23 Waiver of notice
§ 55-8-24 Quorum and voting
§ 55-8-25 Committees
§ 55-8-26 Submission of matters for shareholder vote
§ 55-8-30 General standards for directors
§ 55-8-31 Director conflict of interest
§ 55-8-32 Loans to directors
§ 55-8-33 Liability for unlawful distributions
§ 55-8-40 Officers
§ 55-8-41 Duties of officers
§ 55-8-42 Standards of conduct for officers
§ 55-8-43 Resignation and removal of officers
§ 55-8-44 Contract rights of officers
§ 55-8-50 Policy statement and definitions
§ 55-8-51 Authority to indemnify
§ 55-8-52 Mandatory indemnification
§ 55-8-53 Advance for expenses
§ 55-8-54 Court-ordered indemnification
§ 55-8-55 Determination and authorization of indemnification
§ 55-8-56 Indemnification of officers, employees, and agents
§ 55-8-57 Additional indemnification and insurance
§ 55-8-58 Application of Part

Terms Used In North Carolina General Statutes > Chapter 55 > Article 8 - Directors and Officers

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • 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.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • 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
  • in writing: may be construed to include printing, engraving, lithographing, and any other mode of representing words and letters: Provided, that in all cases where a written signature is required by law, the same shall be in a proper handwriting, or in a proper mark. See North Carolina General Statutes 12-3
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • 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.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • 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.
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • Quorum: The number of legislators that must be present to do business.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
  • Statute: A law passed by a legislature.
  • Trustee: A person or institution holding and administering property in trust.