§ 55-10-01. Authority to amend. - North Carolina Statutes

Article10.

Amendment of Articles ofIncorporation and Bylaws.

Part 1.  Amendment of Articles ofIncorporation.

§ 55‑10‑01. Authority to amend.

(a)        A corporation mayamend its articles of incorporation at any time to add or change a provisionthat is required or permitted in the articles of incorporation or to delete aprovision not required in the articles of incorporation.  Whether a provisionis required or permitted in the articles of incorporation is determined as ofthe effective date of the amendment.

(b)        A shareholder ofthe corporation does not have a vested property right resulting from anyprovision in the articles of incorporation, including provisions relating tomanagement, control, capital structure, dividend entitlement, or purpose orduration of the corporation. (1901, c. 2, ss. 29,30,37;1903, c. 510; Rev., ss. 1175, 1178; C.S., s. 1131; 1927, c. 142, G.S., s. 55‑31;1955, c. 1371, s. 1; 1959, c. 1316, s. 29; 1989, c. 265, s. 1.)