§ 55-14-31. Procedure for judicial dissolution. - North Carolina Statutes

§55‑14‑31.  Procedure for judicial dissolution.

(a)        Venue for aproceeding to dissolve a corporation lies in the county where a corporation'sprincipal office (or, if none in this State, its registered office) is or waslast located.

(b)        It is not necessaryto make shareholders parties to a proceeding to dissolve a corporation unlessrelief is sought against them individually.

(c)        A court in aproceeding brought to dissolve a corporation may issue injunctions, appoint areceiver with all powers and duties the court directs, take other actionrequired to preserve the corporate assets wherever located, and carry on thebusiness of the corporation.

(d)        In any proceedingbrought by a shareholder under G.S. 55‑14‑30(2)(ii) in which thecourt determines that dissolution would be appropriate, the court shall notorder dissolution if, after such determination, the corporation elects topurchase the shares of the complaining shareholder at their fair value, asdetermined in accordance with such procedures as the court may provide. (1955,c. 1371, s. 1; 1959, c. 1316, s. 26; 1973, c. 469, s. 41; 1989, c. 265, s. 1.)