N.C. Gen. Stat. § 58-10-355
Organizational audit
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
In addition to the processing of the application, an organizational audit may be performed before an applicant business entity is licensed. Such investigation or audit shall consist of a general review of the applicant business entity's corporate records, including charters, bylaws, and minute books; verification of capital and surplus; verification of principal place of business; determination of assets and liabilities; and a review of such other factors as the Commissioner deems necessary.
In addition to the processing of the application, an organizational audit may be performed before an applicant business entity is licensed. Such investigation or audit shall consist of a general review of the applicant business entity’s corporate records, including charters, bylaws, and minute books; verification of capital and surplus; verification of principal place of business; determination of assets and liabilities; and a review of such other factors as the Commissioner deems necessary.
History
(2013-116, s. 1; 2015-99, s. 1; 2016-78, s. 4.1(e); 2018-120, s. 5.1(b).)
Effect of Amendments. - Session Laws 2015-99, s. 1, effective June 19, 2015, substituted "applicant business entity" for "applicant" in the first sentence and substituted "applicant business entity's" for "applicant's" in the second sentence.
Session Laws 2016-78, s. 4.1(e), effective June 30, 2016, substituted "audit" for "examination" twice.
Session Laws 2018-120, s. 5.1(b), effective June 28, 2018, deleted "investigation or" following "an organizational" in the first sentence and substituted "review" for "survey" in the second sentence.
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.