North Carolina General Statutes 54-51. Incorporation
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The articles of incorporation shall be in writing, signed and acknowledged by the incorporators and shall contain the following:
(1) The declaration that they are associating for the purpose of forming a land mortgage association under the provisions of this Article.
Terms Used In North Carolina General Statutes 54-51
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
- in writing: may be construed to include printing, engraving, lithographing, and any other mode of representing words and letters: Provided, that in all cases where a written signature is required by law, the same shall be in a proper handwriting, or in a proper mark. See North Carolina General Statutes 12-3
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
(2) The name of such association, which shall be in no material respect similar to any other association in the same county.
(3) The name of the village, town or city, and the county where such association is to be located.
(4) The amount of capital stock, which shall be divided into shares of one hundred dollars ($100.00) each.
(5) The period for which such association is organized. (1925, c. 223, s. 3.)