North Carolina § 20-58.5 Duration of security interest in favor of corporations which dissolve or become inactive

North Carolina Statutes

§ 20-58.5 — Duration of security interest in favor of corporations which dissolve or become inactive

North Carolina § 20-58.5

Ch. 20Motor Vehicles

Art. 3Motor Vehicle Act of 1937

This text of North Carolina § 20-58.5 (Duration of security interest in favor of corporations which dissolve or become inactive) is published on Counsel Stack Legal Research, covering North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.C. Gen. Stat. § 20-58.5 (2026).

Text

Any security interest recorded in favor of a corporation which, since the recording of such security interest, has dissolved or become inactive for any reason, and which remains of record as a security interest of such corporation for a period of more than three years from the date of such dissolution or becoming inactive, shall become null and void and of no further force and effect. (1961, c. 835, s. 6; 1969, c. 838, s. 1; 1979, c. 145, s. 4.)

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Any security interest recorded in favor of a corporation which, since the recording of such security interest, has dissolved or become inactive for any reason, and which remains of record as a security interest of such corporation for a period of more than three years from the date of such dissolution or becoming inactive, shall become null and void and of no further force and effect. (1961, c. 835, s. 6; 1969, c. 838, s. 1; 1979, c. 145, s. 4.)