§ 55A-15-05. Effect of certificate of authority. - North Carolina Statutes

§55A‑15‑05.  Effect of certificate of authority.

(a)        A certificate ofauthority authorizes the foreign corporation to which it is issued to conductaffairs in this State subject, however, to the right of the State to revoke thecertificate as provided in this Chapter.  A foreign corporation, however, isnot eligible or entitled to qualify in this State as executor, administrator,or guardian, or as trustee under the will of any person domiciled in this Stateat the time of his death.

(b)        Except as otherwiseprovided by this Chapter, a foreign corporation with a valid certificate ofauthority has the same but no greater rights and has the same but no greaterprivileges as, and is subject to the same duties, restrictions, penalties, andliabilities now or later imposed on, a domestic corporation of like character. (1955,c. 1230; 1993, c. 398, s. 1.)