N.C. Gen. Stat. § 53A-47
Charter void unless business begun; Article void unless corporation organized
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
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.
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.
History
(1987 (Reg. Sess., 1988), c. 882, s. 1.)
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.