North Carolina § 59B-5 Real and personal property; nonprofit association as devisee or beneficiary

North Carolina Statutes

§ 59B-5 — Real and personal property; nonprofit association as devisee or beneficiary

North Carolina·Ch. 59B Uniform Unincorporated Nonprofit Association Act

(a)A nonprofit association is a legal entity separate from its members for the purposes of acquiring, holding, encumbering, and transferring real and personal property.

(b)A nonprofit association, in its name, may acquire, hold, encumber, or transfer an estate or interest in real or personal property.

(c)A nonprofit association may be a beneficiary of a trust or contract or a devisee.

(d)Any judgments and executions against a nonprofit association bind its real and personal property in like manner as if it were incorporated. (2006-226, s. 1; 2011-284, s. 59.)

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(a) A nonprofit association is a legal entity separate from its members for the purposes of acquiring, holding, encumbering, and transferring real and personal property.
(b) A nonprofit association, in its name, may acquire, hold, encumber, or transfer an estate or interest in real or personal property.
(c) A nonprofit association may be a beneficiary of a trust or contract or a devisee.
(d) Any judgments and executions against a nonprofit association bind its real and personal property in like manner as if it were incorporated. (2006-226, s. 1; 2011-284, s. 59.)

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