NC General Statutes

N.C. Gen. Stat. § 55-2-03 (2026)

Incorporation

✓ current as of July 2026

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(a) Corporate existence begins when the articles of incorporation become effective.

(b) The Secretary of State's filing of the articles of incorporation is conclusive proof that the incorporators satisfied all conditions precedent to incorporation except in a proceeding by the State to cancel or revoke the incorporation or involuntarily dissolve the corporation.

(c) No provision in this Chapter or any prior act shall be construed to require that a corporation have more than one shareholder. (1901, c. 2, s. 10; Rev., s. 1140; C.S., s. 1116; G.S., s. 55-4; 1955, c. 1371, s. 1; 1957, c. 550, ss. 2, 3; 1967, c. 13, s. 3; 1989, c. 265, s. 1; 2001-387, s. 10.)

Notes of Decisions

Cited in 4 cases (1 in the last 5 years), 1993–2022 · leading case: East Mkt. Street Square, Inc. v. Tycorp Pizza IV, Inc., 625 S.E.2d 191 (N.C. Ct. App. 2006).

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East Mkt. Street Square, Inc. v. Tycorp Pizza IV, Inc., 625 S.E.2d 191 (N.C. Ct. App. 2006). · cites it 2× “2d at 44 ; see also N.C. Gen. Stat. § 55-2-03 (c) (2005), we agree with the trial court’s conclusion that in this case, Tycorp IV was so dominated by Bland that it had no “separate mind, will or existence of its own” other than as a “mere instrumentality or tool” of Bland…”

Statesville Stained Glass, Inc. v. TE Lane Constr. & Supply Co., Inc., 430 S.E.2d 437 (N.C. Ct. App. 1993). · cites it 3× “See N.C.G.S. § 55-2-03(c) (1990) (no provision in North Carolina Business Corporation Act or any prior act shall be construed to require that a corporation have more than one shareholder); accord Waff Bros.”

Battleground Veterinary Hosp., P.C. v. McGeoughâ, 2007 NCBC 33 (N.C. Bus. Ct. 2007). · cites it 2× “§ 55-8-01(c) (allowing a corporation to dispense with or limit the authority of a board of directors and transfer authority for performing such duties to one individual).”

Leonard v. Ast, 2022 NCBC 35 (N.C. Bus. Ct. 2022). · cites it 3× “]” N.C.G.S. § 55-2-03(a)–(b). 41. Plaintiff concedes that all conditions precedent to incorporation were satisfied when the Secretary of State filed the articles of incorporation for Barks and Recreation but argues that “[the filing] is not conclusive proof that the Corporation…”

— N.C. Gen. Stat. § 55-2-03(a) — 1 case

Leonard v. Ast, 2022 NCBC 35 (N.C. Bus. Ct. 2022). “]” N.C.G.S. § 55-2-03(a)–(b). 41. Plaintiff concedes that all conditions precedent to incorporation were satisfied when the Secretary of State filed the articles of incorporation for Barks and Recreation but argues that “[the filing] is not conclusive proof that the Corporation…”

— N.C. Gen. Stat. § 55-2-03(c) — 1 case

Statesville Stained Glass, Inc. v. TE Lane Constr. & Supply Co., Inc., 430 S.E.2d 437 (N.C. Ct. App. 1993). “See N.C.G.S. § 55-2-03(c) (1990) (no provision in North Carolina Business Corporation Act or any prior act shall be construed to require that a corporation have more than one shareholder); accord Waff Bros.”

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