North Carolina § 58-7-105 - Authority to increase or reduce capital stock.
Full text of North Carolina North Carolina General Statutes § 58-7-105 — Authority to increase or reduce capital stock., with citation guidance and answers to common questions.
§ 58-7-105. Authority to increase or reduce capital stock.
The Commissioner shall, upon application, examine the proceedings of domestic companies to increase or reduce their capital stock, and when found conformable to law shall issue certificates of authority to such companies to transact business upon such increased or reduced capital: Provided, that in no event shall the said capital stock be reduced to an amount less than that required upon organization of such company in G.S. 58-7-75 . He shall not allow stockholders' obligations of any description as part of the assets or capital of any stock insurance company unless the same are secured by competent collateral. History (1899, c. 54, s. 15; Rev., s. 4732; C.S., s. 6335; 1945, c. 386; 1991, c. 720, s. 4.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 58-7-105
What does North Carolina General Statutes § 58-7-105 cover?
Section 58-7-105 ("Authority to increase or reduce capital stock.") 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 § 58-7-105?
A common citation format is "North Carolina General Statutes § 58-7-105" (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 § 58-7-105 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.