§ 55-15-01. Authority to transact business required. - North Carolina Statutes

Article15.

Foreign Corporations.

Part 1.  Certificate ofAuthority.

§ 55‑15‑01. Authority to transact business required.

(a)        A foreigncorporation may not transact business in this State until it obtains acertificate of authority from the Secretary of State.

(b)        Without excludingother activities which may not constitute transacting business in this State, aforeign corporation shall not be considered to be transacting business in thisState solely for the purposes of this Chapter, by reason of carrying on in thisState any one or more of the following activities:

(1)        Maintaining ordefending any action or suit or any administrative or arbitration proceeding,or effecting the settlement thereof or the settlement of claims or disputes;

(2)        Holding meetings ofits directors or shareholders or carrying on other activities concerning itsinternal affairs;

(3)        Maintaining bankaccounts or borrowing money in this State, with or without security, even ifsuch borrowings are repeated and continuous transactions;

(4)        Maintaining officesor agencies for the transfer, exchange, and registration of its securities, orappointing and maintaining trustees or depositories with relation to itssecurities;

(5)        Soliciting orprocuring orders, whether by mail or through employees or agents or otherwise,where such orders require acceptance without this State before becoming bindingcontracts;

(6)        Making or investingin loans with or without security including servicing of mortgages or deeds oftrust through independent agencies within the State, the conducting offoreclosure proceedings and sale, the acquiring of property at foreclosure saleand the management and rental of such property for a reasonable time whileliquidating its investment, provided no office or agency therefor is maintainedin this State;

(7)        Taking security foror collecting debts due to it or enforcing any rights in property securing thesame;

(8)        Transacting businessin interstate commerce;

(9)        Conducting anisolated transaction completed within a period of six months and not in thecourse of a number of repeated transactions of like nature;

(10)      Selling throughindependent contractors;

(11)      Owning, without more,real or personal property.

(c)        Reserved for futurecodification purposes.

(d)        Foreign insurance companiesthat are licensed by the Commissioner of Insurance are not required to obtain acertificate of authority from the Secretary of State. (1901,c. 2, s. 93; Rev., s. 1193; 1915, c. 196, s. 1; C.S., s. 1180; G.S., s. 55‑117;1955, c. 1371, s. 1; 1989, c. 265, s. 1; 1989 (Reg. Sess., 1990), c. 1024, s.12.20; 1993, c. 552, s. 16.)