Chapter 53A Business Development Corporations and North Carolina Capital Resource Corporations
Article 1 - Business Development Corporations.
Article 2 - North Carolina Capital Resource Corporations.
Article 3 - North Carolina Enterprise Corporations.
- § 53A-35 Short Title
This Article shall be known and may be cited as the North Carolina Enterprise Corporation Act. (1987 (Reg. Sess., 1988), c. 882, s. 1.)
- § 53A-36 Legislative findings and purpose
(a) The General Assembly finds and declares that there exists in the State of North Carolina a serious shortage of mezzanine finance capital and credit...
- § 53A-37 Definitions
The following definitions apply in this Article: (1) Business. A corporation, partnership, association, or sole proprietorship operated for profit. (2) Equity security. Common stock, preferred...
- § 53A-38 Incorporation authorized
(a) One or more persons, a majority of whom are residents of this State, may, by filing a certificate of incorporation as provided in subsection...
- § 53A-39 Purpose
The purpose of a North Carolina Enterprise Corporation shall be to promote, stimulate, develop, and advance economic prosperity and stimulate job creation in North Carolina's...
- § 53A-40 Corporate name
The name of the corporation shall include the words "North Carolina Enterprise Corporation". (1987 (Reg. Sess., 1988), c. 882, s. 1.)
- § 53A-41 Governing law
Except as otherwise provided in this Article, a North Carolina Enterprise Corporation shall be governed by Chapter 55 of the General Statutes. (1987 (Reg. Sess.,...
- § 53A-42 Powers
A North Carolina Enterprise Corporation created under this Article shall have all the powers conferred on business corporations by Chapter 55 of the General Statutes....
- § 53A-43 Primary investments
The primary investments of a North Carolina Enterprise Corporation shall be in Qualified North Carolina Businesses that have significant potential to create jobs and diversify...
- § 53A-44 Prohibited investments
Investments by a North Carolina Enterprise Corporation shall not be made in any business unless the business can demonstrate to the satisfaction of the North...
- § 53A-45 Board of directors
The business and affairs of a North Carolina Enterprise Corporation shall be managed and conducted by a board of directors and by such officers and...
- § 53A-46 Repealed by Session Laws 1996, Second Extra Session, c. 14, s. 8
- § 53A-47 Charter void unless business begun; Article void unless corporation organized
If a corporation organized pursuant to this Article fails to begin business within three years after the effective date of its charter then its charter...
