North Carolina § 55A-3-04 - Ultra vires.
Full text of North Carolina North Carolina General Statutes § 55A-3-04 — Ultra vires., with citation guidance and answers to common questions.
§ 55A-3-04. Ultra vires.
Except as provided in subsection (b) of this section, the validity of corporate action shall not be challenged on the ground that the corporation lacks or lacked power to act. A corporation's power to act may be challenged: In a proceeding by a member or a director against the corporation to enjoin the act; In a proceeding by the corporation, directly, derivatively, or through a receiver, trustee, or other legal representative, against an incumbent or former director, officer, employee, or agent of the corporation; or In a proceeding by the Attorney General under G.S. 55A-14-30. In a proceeding by a member or a director under subdivision (b)(1) of this section to enjoin an unauthorized corporate act, the court may enjoin or set aside the act, if equitable and if all affected persons are parties to the proceeding, and may award damages for loss (other than anticipated profits) suffered by the corporation or another party because of enjoining the unauthorized act. History (1955, c. 1230; 1993, c. 398, s. 1.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 55A-3-04
What does North Carolina General Statutes § 55A-3-04 cover?
Section 55A-3-04 ("Ultra vires.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Carolina § 55A-3-04?
A common citation format is "North Carolina General Statutes § 55A-3-04" (North Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 55A-3-04 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Carolina.