PUBLISHED

N.C.G.S. § 106-988

Limitation on bounties to stockholders.

Effective date: 2026-08-08
Last verified: 2026-08-09
Source: official source
Revision history: view all versions

Stockholders shall at no time receive or accept from any such corporation in repayment of their investment in its stock any sums in excess of the par value of the stock together with cumulative dividends at the rate set forth in G.S. 106-986 except that nothing in this section contained shall be construed to prohibit the distribution of the assets of such corporation in kind to its stockholders upon dissolution thereof. (1933, c. 178, s. 9; 2011-145, s. 13.25(cc), (dd).)