§ 54-117. General corporation law or general nonprofit corporation law applied; dealing in products of, or renting to, nonmembers. - North Carolina Statutes

§54‑117.  General corporation law or general nonprofit corporation lawapplied; dealing in products of, or renting to, nonmembers.

All mutual associations shallbe maintained in accordance with the general corporation law or generalnonprofit corporation law, except as otherwise provided for in this Subchapter.And no corporation or association hereafter organized under this Subchapter fordoing business in this State shall be permitted to deal in the products ofnonmembers to an amount greater in value than such as are handled by it formembers: Provided, no housing corporation or association hereafter organizedunder this Subchapter shall be permitted to rent to nonmembers for a periodlonger than 90 days. (1915, c. 144, s. 17; C.S., s. 5248; 1925, c. 179, s.1; 1931, c. 447, s. 2; 1949, c. 1042, s. 2(b); 1985, c. 542, s. 3.)