North Carolina § 55A-6-21 - Prohibition of stock.
Full text of North Carolina North Carolina General Statutes § 55A-6-21 — Prohibition of stock., with citation guidance and answers to common questions.
§ 55A-6-21. Prohibition of stock.
A corporation shall neither authorize nor issue shares of stock. History (1955, c. 1230; 1985 (Reg. Sess., 1986), c. 801, s. 32; 1993, c. 398, s. 1.) NORTH CAROLINA COMMENTARY G.S. 55-17-01(b) prohibits the formation of nonprofit corporations with capital stock under Chapter 55 . G.S. 55-17-01(a) provides that domestic nonprofit corporations with capital stock organized prior to July 1, 1957 under former Chapter 55 or its predecessor are governed by Chapter 55. But, under the provisions of G.S. 55A-1-40(11) and G.S. 55A-15-01(a), foreign nonprofit corporations with capital stock are governed by Chapter 55A if they are conducting affairs in North Carolina. Editor's Note. - The number of this section was assigned by the Revisor of Statutes, the number in Session Laws 1993, c. 398, s. 1 having been 55A-6-11.
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 55A-6-21
What does North Carolina General Statutes § 55A-6-21 cover?
Section 55A-6-21 ("Prohibition of 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 § 55A-6-21?
A common citation format is "North Carolina General Statutes § 55A-6-21" (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-6-21 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.