§ 54-125. Amendment of articles. - North Carolina Statutes

§54‑125.  Amendment of articles.

The association may amend itsarticles of incorporation by a majority vote of its shareholders at any regularshareholders' meeting, or any special shareholders' meeting called for thatpurpose, on 10 days' notice to the shareholders. The power to amend shallinclude the power to increase or diminish the amount of capital stock and thenumber of shares: Provided, the amount of the capital stock shall not bediminished below the amount of the paid‑up capital at the time the amendmentis adopted. Within 30 days after the adoption of an amendment to its articlesof incorporation, an association shall cause a copy of such amendment adoptedto be recorded in the office of the Secretary of State and of the register ofdeeds of the county where the principal place of business is located. (1915,c. 144, s. 7; C.S., s. 5256; 1967, c. 823, s. 14.)