§ 20-58.5. Duration of security interest in favor of corporations which dissolve or become inactive. - North Carolina Statutes

§ 20‑58.5.  Duration ofsecurity interest in favor of corporations which dissolve or become inactive.

Any security interest recordedin favor of a corporation which, since the recording of such security interest,has dissolved or become inactive for any reason, and which remains of record asa security interest of such corporation for a period of more than three yearsfrom the date of such dissolution or becoming inactive, shall become null andvoid and of no further force and effect. (1961, c. 835, s. 6; 1969, c.838, s. 1; 1979, c. 145, s. 4.)