North Carolina § 55A-8-44 - Contract rights of officers.
Full text of North Carolina North Carolina General Statutes § 55A-8-44 — Contract rights of officers., with citation guidance and answers to common questions.
§ 55A-8-44. Contract rights of officers.
The appointment of an officer does not itself create contract rights. An officer's removal does not affect the officer's contract rights, if any, with the corporation. An officer's resignation does not affect the corporation's contract rights, if any, with the officer. History (1955, c. 1230; 1993, c. 398, s. 1.) NORTH CAROLINA COMMENTARY This section makes clear that the appointment of an officer does not itself create contract rights in the officer. The removal of an officer with contract rights is without prejudice to his later enforcement of contract rights in a suit for damages for breach of contract. See the Official Comment to G.S. 55-8-43 . Similarly, an officer with an employment contract who prematurely resigns may be in breach of his employment contract. The mere appointment of an officer for a term does not create a contractual obligation on his part to complete the term.
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 55A-8-44
What does North Carolina General Statutes § 55A-8-44 cover?
Section 55A-8-44 ("Contract rights of officers.") 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-8-44?
A common citation format is "North Carolina General Statutes § 55A-8-44" (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-8-44 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.