§ 55-16-06. Exception to notice requirements. - North Carolina Statutes

§ 55‑16‑06. Exception to notice requirements.

(a)        Whenever notice isrequired to be given under any provision of this Chapter to a shareholder, thenotice shall not be required to be given if either of the following applies:

(1)        Notice of twoconsecutive annual meetings, and all notices of meetings during the periodbetween those two consecutive annual meetings, have been sent to theshareholder at the shareholder's address as shown on the records of thecorporation and have been returned undeliverable.

(2)        All, but not lessthan two, payments of dividends on securities during a 12‑month period,or two consecutive payments of dividends on securities during a period of morethan 12 months, have been sent to the shareholder at the shareholder's addressas shown on the records of the corporation and have been returnedundeliverable.

(b)        If a shareholderdelivers to the corporation a written notice setting forth that shareholder'scurrent address, the requirement that notice be given to the shareholder shallbe reinstated. (2005‑268,s. 36.)