§ 54-139. Foreign cooperative corporations; limitation on use of word "cooperative." - North Carolina Statutes

§54‑139.  Foreign cooperative corporations; limitation on use of word"cooperative."

(a)        A foreigncorporation (with or without capital stock) that can qualify as an association,as defined in G.S. 54‑130(2)b1 and 2, may be authorized to transactbusiness in this State under the provisions of Chapter 55A of the GeneralStatutes.

(b)        No person otherthan an association organized under this Subchapter, or a foreign corporationauthorized to transact business in this State pursuant to subsection (a) ofthis section, or an electric or telephone membership corporation domesticatedpursuant to G.S. 117‑28, or an organization created under or governed bySubchapter IV of Chapter 54 of the General Statutes, shall be entitled toorganize, domesticate, or transact business in this State if the corporate orother business name or title of such person contains the word"cooperative." (1921, c. 87, s. 21; C.S., s. 5259(k); 1963, c. 1168,s. 8; 1985, c. 542, s.  8; 1993, c. 552, s. 20.)