156-49. Dissolution of corporation.
If, from any cause, the canal or other improvement shall become or shall prove to be valueless, any corporator may apply as is provided in other cases of special proceedings, and the court may dissolve the corporation created in connection with it. (1868-9, c. 164, s. 13; Code, s. 1322; Rev., s. 4007; C.S., s. 5307.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 4 - Rights and Liabilities in the Corporation.
§ 156-44 - Shares of stock annexed to land.
§ 156-45 - Shareholders to pay assessments.
§ 156-46 - Payment of dues entitles to use of canal.
§ 156-47 - Rights of infant owners protected.
§ 156-48 - Compensation for damage to lands.
§ 156-49 - Dissolution of corporation.
§ 156-50 - Laborer's lien for work on canal.
§ 156-51 - Penalty for nonpayment of assessments.