North Carolina § 55A-14-06 - Effect of dissolution.

§ 55A-14-06. Effect of dissolution.

A dissolved corporation continues its corporate existence but shall not carry on any activities except those appropriate to wind up and liquidate its affairs, including: Preserving and protecting its assets; Discharging or making provision for discharging its liabilities and obligations; Disposing of its remaining assets in accordance with its plan of dissolution; and Doing every other act necessary to wind up and liquidate its assets and affairs. Dissolution of a corporation does not: Transfer title to the corporation's property; Subject its directors or officers to standards of conduct different from those prescribed in Article 8 of this Chapter; Change quorum or voting requirements for its board of directors or members; change provisions for selection, resignation, or removal of its directors or officers or both; or change provisions for amending its bylaws; Prevent commencement of a proceeding by or against the corporation in its corporate name; Abate or suspend a proceeding pending by or against the corporation on the effective date of dissolution; or Terminate the authority of the registered agent of the corporation. History (1955, c. 1230; 1993, c. 398, s. 1.)