Certificates of stock shall not be issued to any subscriber until fully paid, but the bylaws of the association may allow subscribers to vote as shareholders: Provided, part of the stock subscribed for has been paid in cash.
N.C. Gen. Stat. § 54-119
Certificate for stock fully paid
1915, c. 144, s. 11; C.S., s. 5250.
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.