§ 59B-10. Disposition of personal property of inactive nonprofit association. - North Carolina Statutes

§ 59B‑10.  Dispositionof personal property of inactive nonprofit association.

If a nonprofit association hasbeen inactive for three years or longer, or a different period specified in adocument of the nonprofit association, a person in possession or control ofpersonal property of the nonprofit association may transfer custody of theproperty:

(1)        If a document of thenonprofit association or document of gift specifies a person to whom transferis to be made under these circumstances, to that person; or

(2)        If no person is sospecified, to a nonprofit association, nonprofit corporation, or othernonprofit entity pursuing broadly similar purposes, or to a government orgovernmental subdivision, agency, or instrumentality. (2006‑226, s. 1.)