§ 54-140. Association heretofore organized may adopt the provisions of this Subchapter. - North Carolina Statutes

§54‑140.  Association heretofore organized may adopt the provisions ofthis Subchapter.

Any corporation or associationorganized under previously existing statutes may, by a majority vote of itsstockholders or members, be brought under the provisions of this Subchapter bylimiting its membership and adopting the other restrictions as provided herein.It shall make out in duplicate a statement signed and sworn to by itsdirectors, upon forms supplied by the Secretary of State, to the effect thatthe corporation or association has by a majority vote of its stockholders ormembers decided to accept the benefits and be bound by the provisions of thisSubchapter. Articles of incorporation shall be filed as required in G.S. 54‑134,except that they shall be signed by the members of the board of directors. Thefiling fee shall be the same as for filing an amendment to articles ofincorporation. (1921, c. 87, s. 24; C.S., s. 5259(l).)