§ 117-28. Foreign corporations; domestication; rights and privileges. - North Carolina Statutes

Article 3.

Miscellaneous Provisions.

§ 117‑28.  Foreign corporations; domestication;rights and privileges.

Any electric or telephone membership corporation created and existingunder and by virtue of the laws of any adjoining state, which corporation desiresto extend its lines into this State for the purpose of obtaining its power andenergy needs, or an exchange interconnection, or for the purpose of supplyingelectric or telephone service to citizens and residents of this State, shall beand is hereby granted the right to domesticate in this State as such electricor telephone membership corporation, and, after such domestication, any suchcorporation shall have and enjoy all the rights, privileges, benefits andimmunities granted to electric or telephone membership corporations under thelaws of this State and shall be subject to the terms, provisions and conditionsof this Chapter, and other applicable laws, to the same extent as such laws arenow applicable to membership corporations organized under the laws of thisState. (1941, c. 12; 1959, c.387, s. 3.)