™Your Policy Risk Impact Agent
12 sections in this chapter.
N.C. Gen. Stat. § 53A-35 Short Title
0.1K chars
This Article shall be known and may be cited as the North Carolina Enterprise Corporation Act. (1987 (Reg. Sess., 1988), c. 882, s. 1.)
N.C. Gen. Stat. § 53A-36 Legislative findings and purpose
1.4K chars
(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 available for investment in rural areas in the State. This shortage of mezzanine finance capital and credit is severe throughout…
N.C. Gen. Stat. § 53A-37 Definitions
1.6K chars
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 stock, an interest in a partnership, subordinated debt, or a warrant that is convertibl…
N.C. Gen. Stat. § 53A-38 Incorporation authorized
0.5K chars
(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 (b), incorporate a North Carolina Enterprise Corporation under the provisions of this Article. (b) Persons who wish to associate themse…
N.C. Gen. Stat. § 53A-39 Purpose
0.6K chars
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 rural areas primarily through mezzanine finance investments in Qualified North Carolina Businesses. To st…
N.C. Gen. Stat. § 53A-40 Corporate name
0.1K chars
The name of the corporation shall include the words "North Carolina Enterprise Corporation". (1987 (Reg. Sess., 1988), c. 882, s. 1.)
N.C. Gen. Stat. § 53A-41 Governing law
0.2K chars
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., 1988), c. 882, s. 1.)
N.C. Gen. Stat. § 53A-42 Powers
0.2K chars
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. (1987 (Reg. Sess., 1988), c. 882, s. 1.)
N.C. Gen. Stat. § 53A-43 Primary investments
0.3K chars
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 and stabilize the economy of rural areas of this State. (1987 (Reg. Sess., 1988), c. 882, s. 1.)
N.C. Gen. Stat. § 53A-44 Prohibited investments
0.3K chars
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 Carolina Enterprise Corporation that the business cannot obtain sufficient financing through traditional financial institu…
N.C. Gen. Stat. § 53A-45 Board of directors
1.4K chars
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 agents as the corporation by its bylaws shall authorize. The initial board of directors shall be those listed in the Articles of Inc…
N.C. Gen. Stat. § 53A-47 Charter void unless business begun; Article void unless corporation organized
0.4K chars
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 is void. If, at the expiration of three years after July 1, 1988, no corporation has been organized pursuant to this Article, th…
