§ 113-67. Limitations as to dividends. - North Carolina Statutes

§ 113‑67. Limitations as to dividends.

The shares of stock of corporations organized under this Article shallhave a par value and, except as provided in G.S. 113‑69 in respect todistributions in kind upon dissolution, no dividend shall be paid thereon at arate in excess of six per centum (6%) per annum on stock having a preference asto dividends, or eight per centum (8%) per annum on stock not having apreference as to dividends, except that any such dividends may be cumulativewithout interest. (1933, c. 178, s.7.)