Current through Session Law 2024-56
Section 55A-14-06 - Effect of dissolution(a) A dissolved corporation continues its corporate existence but shall not carry on any activities except those appropriate to wind up and liquidate its affairs, including:(1) Preserving and protecting its assets;(2) Discharging or making provision for discharging its liabilities and obligations;(3) Disposing of its remaining assets in accordance with its plan of dissolution; and(4) Doing every other act necessary to wind up and liquidate its assets and affairs.(b) Dissolution of a corporation does not: (1) Transfer title to the corporation's property;(2) Subject its directors or officers to standards of conduct different from those prescribed in Article 8 of this Chapter;(3) Change quorum or voting requirements for its board of directors or members; change provisions for selection, resignation, or removal of its directors or officers or both; or change provisions for amending its bylaws;(4) Prevent commencement of a proceeding by or against the corporation in its corporate name;(5) Abate or suspend a proceeding pending by or against the corporation on the effective date of dissolution; or(6) Terminate the authority of the registered agent of the corporation.N.C. Gen. Stat. § 55A-14-06
1955, c. 1230; 1993, c. 398, s. 1.