§ 53-373. Corporate procedure. - North Carolina Statutes

§ 53‑373.  Corporateprocedure.

Shareholder action toliquidate a State trust company shall be taken at a meeting of the shareholdersduly called by resolution of the board of directors. Notice of the meeting,stating the purpose of the meeting, shall be mailed to each shareholder,addressed to the shareholder's last known residence at least 10 days prior tothe date of the meeting. If the shareholders, by the required vote, elect toliquidate a trust company, a certified copy of all proceedings of the meetingat which the action was taken, verified by the oath of the president andsecretary, shall be transmitted to the Commissioner for approval. (2001‑263, s. 1.)