§ 55-7-21.1. Rights of holders of debt securities. - North Carolina Statutes

§55‑7‑21.1.  Rights of holders of debt securities.

In addition to any rightsotherwise lawfully conferred, the articles of incorporation of the corporationmay confer upon the holders of any bonds, debentures or other debt obligationsissued or to be issued by the corporation any one or more of the followingpowers and rights upon such terms and conditions as may be prescribed in thearticles of incorporation:

(1)        The power to vote onany matter either in conjunction with or to the full or partial exclusion ofits shareholders, notwithstanding G.S. 55‑6‑01(c)(1), and indetermination of votes and voting groups, the holders of such debt obligationsshall be treated as shareholders;

(2)        The right to inspectthe corporate books and records;

(3)        Any other rightsconcerning the corporation which its shareholders have or may have.

Any such power or right shallnot be diminished, as to bonds, debentures or other obligations thenoutstanding, except by an amendment of the articles of incorporation approvedby the vote or written consent of the holders of a majority in principal amountthereof or such larger percentage as may be specified in the articles ofincorporation. (1969, c. 751, s. 19; 1989, c. 265, s. 1; 1989 (Reg.Sess., 1990), c. 1024, s. 12.10; 1991, c. 645, s. 5.)