Definitions
Applied in 3 court decisions — leading case 140 N.C. App. 390 - Norman v. Nash Johnson & Sons' Farms, Inc. (2000)
Most recently applied in THOMAS v. McMAHON (June 2015)
1995, c. 149, s. 1; 2025-33, s. 5(a).
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
In this Part:
(1) "Derivative proceeding" means a civil suit in the right of a domestic corporation or, to the extent provided in G.S. 55-7-47, in the right of a foreign corporation, to recover for an injury to the corporation.
(2) "Shareholder" has the same meaning as in G.S. 55-1-40 and includes a beneficial owner whose shares are held in a voting trust or held by a nominee on the beneficial owner's behalf.
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.