North Carolina § 54-109 - 27. Societies and other associations.
Full text of North Carolina North Carolina General Statutes § 54-109 — 27. Societies and other associations., with citation guidance and answers to common questions.
§ 54-109. 27. Societies and other associations.
Societies, and copartnerships composed primarily of individuals who are eligible to membership, and corporations whose stockholders are composed primarily of such individuals, may be admitted to membership in the same manner and under the same conditions as individuals, but may not borrow in excess of their shareholdings. Provided, however, secured loans in excess of shareholdings may be made to nonprofit societies, copartnerships, and corporations who are members. History (1975, c. 538, s. 1; 1979, c. 809, s. 1.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 54-109
What does North Carolina General Statutes § 54-109 cover?
Section 54-109 ("27. Societies and other associations.") 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 § 54-109?
A common citation format is "North Carolina General Statutes § 54-109" (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 § 54-109 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.