North Carolina Statutes
§ 54-121 — Shares issued on purchase of business
North Carolina·Ch. 54 Cooperative Organizations·Art. 17 Stockholders and Officers·Subch. IV COOPERATIVE ASSOCIATIONS
Whenever an association, created under this Subchapter, shall purchase the business of another association or person, it may pay for the same in whole or in part by issuing to the selling association or persons shares of its capital stock to an amount which at par value would equal the fair market value of the business so purchased, and in such case the transfer to the association of such business at such valuation shall be equivalent to payment in cash for the shares of stock so issued. (1915, c. 144, s. 10; C.S., s. 5252.)
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Nearby Sections
15
§ 54-109.1
Definition and purposes§ 54-109.10
Creation and supervision of Division§ 54-109.105
What information deemed confidential; disclosure; certain information deemed public; exchange of information§ 54-109.106
Foreign Credit Unions§ 54-109.11
Duties of Administrator§ 54-109.12
Corporations organized hereunder subject to Administrator of Credit Unions; rules and regulations§ 54-109.13
Revocation of certificate; liquidation§ 54-109.14
Fees§ 54-109.15
Reports§ 54-109.16
Examinations required; payment of cost§ 54-109.17
Records§ 54-109.19
Removal of officers§ 54-109.2
Organization procedure§ 54-109.20
Reserved for future codification purposes