North Carolina § 62-115 - Issuance of partnership franchises.

§ 62-115. Issuance of partnership franchises.

No franchise shall be issued under this Article to two or more persons until the persons have executed a partnership agreement, filed a copy of the agreement with the Commission, and indicated to the Commission, in writing, that they have complied with Article 14A of Chapter 66 of the General Statutes relating to engaging in business under an assumed business name. History (1947, c. 1008, s. 14; 1949, c. 1132, s. 14; 1961, c. 472, s. 5; 1963, c. 1165, s. 1; 2016-100, s. 8.) Editor's Note. - Session Laws 2016-100, s. 12 provides, in part: "Sections 1 through 9 of this act become effective July 1, 2017, and do not affect a civil action or proceeding commenced or a right accrued before July 1, 2017. Sections 1 through 9 of this act become effective only if funds are appropriated by the 2015 General Assembly, 2016 Regular Session, to implement the provisions of G.S. 66-71.9 , as enacted by Section 2 of this act." The appropriation was made. Effect of Amendments. - Session Laws 2016-100, s. 8, effective July 1, 2017, in the section, substituted "Article 14A" for "Article 14," added "of the General Statutes" following "of Chapter 66 ," added "business" preceding "name" at the end and made stylistic changes. For contingent effective date, see Editor's note.