PUBLISHED

N.C.G.S. § 124-2

State deemed shareholder in corporation accepting appropriation.

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

When an appropriation is made by the State to any work of internal improvement conducted by a corporation, the State shall be considered, if so directed in the act making the appropriation, a stockholder in such corporation, and shall have as many shares as may correspond with the amount of money appropriated; and the acceptance of such money shall be deemed to be a consent of the corporation to the terms herein expressed. (1925, c. 157, s. 2; 1985, c. 792, s. 13.21.)