North Carolina Statutes
§ 156-41 — Proprietors become a corporation
Upon a final adjudication, confirming the report, the proprietors of the several pieces of land adjudged to be benefited by the improvement shall be declared a corporation, of which the capital stock shall be double the estimated cost of the improvements, and in which the several owners of the land adjudged to be benefited shall be corporators, holding shares of stock in the proportions in which they are adjudged liable for the expense of making and keeping up the improvement. (1868-9, c. 164, s. 6; Code, s. 1315; Rev., s. 4000; C.S., s. 5299.)
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Nearby Sections
15
§ 156-1
Supplemental proceeding§ 156-10
Right to drain into canal§ 156-100
Sale of bonds§ 156-100.1
Sale of assessment anticipation notes§ 156-100.3
Sinking fund§ 156-101
Refunding bonds issued§ 156-102
Drainage bonds received as deposits§ 156-103
Assessment rolls prepared§ 156-104
Application of amendatory provisions of certain sections; amendment or reformation of proceedings§ 156-108
Receipt books prepared