§ 59B-6. Statement of authority as to real property. - North Carolina Statutes

§ 59B‑6.  Statement ofauthority as to real property.

(a)        A nonprofitassociation may execute and record a statement of authority to transfer anestate or interest in real property in the name of the nonprofit association.

(b)        An estate orinterest in real property in the name of a nonprofit association may betransferred by a person so authorized in a statement of authority recorded inthe office of the register of deeds in the county in which a transfer of theproperty would be recorded.

(c)        A statement ofauthority must be set forth in a document styled "affidavit" thatcontains all of the following:

(1)        The name of thenonprofit association.

(2)        Reserved for futurecodification purposes.

(3)        The street address,and the mailing address if different from the street address, of the nonprofitassociation, and the county in which it is located, or, if the nonprofitassociation does not have an address in this State, its address out‑of‑state.

(4)        That the associationis an unincorporated nonprofit association.

(5)        The name or officeof a person authorized to transfer an estate or interest in real property heldin the name of the nonprofit association.

(6)        That the associationhas duly authorized the member or agent executing the statement to do so.

(d)        A statement ofauthority must be sworn to and subscribed in the same manner as an affidavit bya member or agent who is not the person authorized to transfer the estate orinterest.

(e)        The register ofdeeds shall collect a fee for recording a statement of authority in the amountauthorized by G.S. 161‑10(a)(1). The register of deeds shall index thename of the nonprofit association and the member or agent signing the statementof authority or any subsequent document relating thereto as Grantor and thename of the appointee as Grantee.

(f)         An amendment,including a termination, of a statement of authority must meet the requirementsfor execution and recording of an original statement. Unless terminatedearlier, a recorded statement of authority or its most recent amendment expiresby operation of law five years after the date of the most recent recording.

(g)        If the record titleto real property is in the name of a nonprofit association and the statement ofauthority is recorded in the office of the register of deeds in the county inwhich a transfer of real property would be recorded, the authority of theperson or officer named in a statement of authority is conclusive in favor of aperson who gives value without notice that the person or officer lacksauthority. (2006‑226,s. 1.)