N.C. Gen. Stat. § 55-6-31
Corporation's acquisition of its own shares
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
(1) A corporation may acquire its own shares and shares so acquired constitute authorized but unissued shares.
(1) A corporation may acquire its own shares and shares so acquired constitute authorized but unissued shares.
(2) If the articles of incorporation prohibit the reissue of the acquired shares, the number of authorized shares is reduced by the number of shares acquired, effective upon amendment of the articles of incorporation.
(2) If the articles of incorporation prohibit the reissue of the acquired shares, the number of authorized shares is reduced by the number of shares acquired, effective upon amendment of the articles of incorporation.
(3) Repealed by Session Laws 2005-268, s. 1, effective October 1, 2005.
(3) Repealed by Session Laws 2005-268, s. 1, effective October 1, 2005.
History
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.