North Carolina § 124-2 - State deemed shareholder in corporation accepting appropriation.
Full text of North Carolina North Carolina General Statutes § 124-2 — State deemed shareholder in corporation accepting appropriation., with citation guidance and answers to common questions.
§ 124-2. State deemed shareholder in corporation accepting appropriation.
When an appropriation is made by the State to any work of internal improvement conducted by a corporation, the State shall be considered, if so directed in the act making the appropriation, a stockholder in such corporation, and shall have as many shares as may correspond with the amount of money appropriated; and the acceptance of such money shall be deemed to be a consent of the corporation to the terms herein expressed. History (1925, c. 157, s. 2; 1985, c. 792, s. 13.21.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 124-2
What does North Carolina General Statutes § 124-2 cover?
Section 124-2 ("State deemed shareholder in corporation accepting appropriation.") 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 § 124-2?
A common citation format is "North Carolina General Statutes § 124-2" (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 § 124-2 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.