North Carolina Statutes

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  • § 53A-46   Repealed by Session Laws 1996, Second Extra Session, c. 14, s. 8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...