The provisions of the North Carolina Business Corporation Act (Chapter 55 of the General Statutes) shall apply, so far as appropriate, to every cooperative association with capital stock heretofore or hereafter organized or domesticated under this Subchapter, except where the provisions of that act are in conflict with or inconsistent with the express provisions of this Subchapter.
N.C. Gen. Stat. § 54-142
Application of North Carolina Business Corporation Act to cooperative associations with capital stock
Known as the Cooperative Marketing Act
The act spans §§ 54–54 (18 sections).
Applied in 2 court decisions — leading case Teresa Speaks v. U. S. Tobacco Cooperative (2022)
Most recently applied in Teresa Speaks v. U. S. Tobacco Cooperative (April 2022)
1921, c. 87, s. 28; C.S., s. 5259(o); 1963, c. 1168, s. 9; 1989 (Reg
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.