106-991. Cutting and sale of timber.
Any such corporation may cut and sell the timber on its land or permit the cutting thereof, but all such cuttings shall be in accordance with the rules, restrictions and limitations imposed by the Commissioner, who shall impose such rules, restrictions and limitations with respect thereto as may reasonably conform to the accepted custom and usage of good forestry and forest economy, taking into consideration the situation, nature and condition of the tract so cut or to be cut, and the financial needs of such corporation from time to time. (1933, c. 178, s. 12; 1973, c. 1262, s. 86; 1977, c. 771, s. 4; 1989, c. 727, s. 89; 2011-145, s. 13.25(cc), (dd).)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 81 - Corporations for Protection and Development of Forests.
§ 106-980 - Private limited dividend corporations may be formed.
§ 106-981 - Manner of organizing.
§ 106-983 - Duties of supervision by Commissioner.
§ 106-984 - Powers of Commissioner.
§ 106-985 - Provision for appeal by corporations to Governor.
§ 106-986 - Limitations as to dividends.
§ 106-987 - Issuance of securities restricted.
§ 106-988 - Limitation on bounties to stockholders.
§ 106-989 - Earnings above dividend requirements payable to State.
§ 106-990 - Dissolution of corporation.
§ 106-991 - Cutting and sale of timber.
§ 106-993 - Power to borrow money limited.
§ 106-994 - Commissioner to approve development of forests.