§ 55-6-25. Form and content of certificates.

311 words·~1 min read·/nc/chapter-55/55-6-25

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Shares may, but need not, be represented by certificates. Share certificates shall not be issued in bearer form. Unless this Chapter or another statute expressly provides otherwise, the rights and obligations of shareholders are identical regardless of whether their shares are represented by certificates.

(b)At a minimum each share certificate shall state all of the following on its face:

(1)The name of the issuing corporation and that it is organized under the law of North Carolina.

(2)The name of the person to whom issued.

(3)The number and class of shares and the designation of the series, if any, the certificate represents.

(c)If the issuing corporation is authorized to issue different classes of shares or different series within a class, the designations, relative rights, preferences, and limitations applicable to each class and the variations in rights, preferences, and limitations determined for each series (and the authority of the board of directors to determine variations for future series) shall be summarized on the front or back of each certificate. Alternatively, each certificate may state conspicuously on its front or back that the corporation will furnish the shareholder this information on request in writing and without charge.

(d)Each share certificate

(i)shall be signed (either manually or in facsimile) by two officers designated in the bylaws or by the board of directors and

(ii)may bear the corporate seal or its facsimile.

(e)If the person who signed (either manually or in facsimile) a share certificate no longer holds office when the certificate is issued, the certificate is nevertheless valid. (1885, c. 265; 1901, c. 2, s. 94; Rev., ss. 1165, 1166; C.S., s. 1162; 1927, c. 173; 1949, c. 809; G.S., s. 55-67; 1955, c. 1371, s. 1; 1979, c. 91; 1989, c. 265, s. 1; 2025-33, s. 4(b).)