NC General Statutes
N.C. Gen. Stat. § 156-41 (2026)
Proprietors become a corporation
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Upon a final adjudication, confirming the report, the proprietors of the several pieces of land adjudged to be benefited by the improvement shall be declared a corporation, of which the capital stock shall be double the estimated cost of the improvements, and in which the several owners of the land adjudged to be benefited shall be corporators, holding shares of stock in the proportions in which they are adjudged liable for the expense of making and keeping up the improvement. (1868-9, c. 164, s. 6; Code, s. 1315; Rev., s. 4000; C.S., s. 5299.)
Notes of Decisions
Cited in 1
case, 1949–1949 · leading case: In re Atkinson-Clark Canal Co., 56 S.E.2d 442 (N.C. 1949).
In re Atkinson-Clark Canal Co., 56 S.E.2d 442 (N.C. 1949). “And it is only after a final adjudication and confirmation of the report of the Commissioners, that the proprietors of the several pieces of land *135 adjudged to be benefited by the improvement shall be declared a corporation, G.S. 156-41, and may proceed to organize and levy…”
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