§ 124-2. State deemed shareholder in corporation accepting appropriation. - North Carolina Statutes

§124‑2.  State deemed shareholder in corporation accepting appropriation.

When an appropriation is madeby the State to any work of internal improvement conducted by a corporation,the State shall be considered, if so directed in the act making the appropriation,a stockholder in such corporation, and shall have as many shares as maycorrespond with the amount of money appropriated; and the acceptance of suchmoney shall be deemed to be a consent of the corporation to the terms hereinexpressed. (1925, c. 157, s. 2; 1985, c. 792, s. 13.21.)