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.
N.C. Gen. Stat. § 20-58.5
Duration of security interest in favor of corporations which dissolve or become inactive
Known as the Child Bicycle Safety Act
The act spans §§ 20–20 (324 sections).
1961, c. 835, s. 6; 1969, c. 838, s. 1; 1979, c. 145, s. 4.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.