North Carolina Statutes
§ 53A-47 — Charter void unless business begun; Article void unless corporation organized
North Carolina·Ch. 53A Business Development Corporations and North Carolina Capital Resource Corporations·Art. 3 North Carolina Enterprise Corporations
If a corporation organized pursuant to this Article fails to begin business within three years after the effective date of its charter then its charter is void. If, at the expiration of three years after July 1, 1988, no corporation has been organized pursuant to this Article, then on that date this Article shall expire.
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North Carolina § 53A-47 (Charter void unless business begun; Article void unless corporation organized) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(1987 (Reg. Sess., 1988), c. 882, s. 1.)
Nearby Sections
12
§ 53A-35
Short Title§ 53A-36
Legislative findings and purpose§ 53A-37
Definitions§ 53A-38
Incorporation authorized§ 53A-39
Purpose§ 53A-40
Corporate name§ 53A-41
Governing law§ 53A-42
Powers§ 53A-43
Primary investments§ 53A-44
Prohibited investments§ 53A-45
Board of directors