55-6-26. Shares without certificate.
(a) Unless the articles of incorporation or bylaws provide otherwise, the board of directors of a corporation may authorize the issue of some or all of the shares of any or all of its classes or series without certificates. The authorization does not affect shares already represented by certificates until they are surrendered to the corporation.
(b) Within a reasonable time after the issue or transfer of shares without certificates, the corporation shall send the shareholder a written statement of the information required on certificates by G.S. 55-6-25(b) and (c), and if applicable, G.S. 55-6-27. (1989, c. 265, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 55 - North Carolina Business Corporation Act
Article 6 - Shares and Distribution.
§ 55-6-01 - Authorized shares.
§ 55-6-02 - Terms of class or series determined by board of directors.
§ 55-6-03 - Issued and outstanding shares.
§ 55-6-04 - Fractional shares.
§ 55-6-20 - Subscription for shares before incorporation.
§ 55-6-21 - Issuance of shares.
§ 55-6-22 - Liability of shareholders.
§ 55-6-24 - Rights, options, and warrants.
§ 55-6-25 - Form and content of certificates.
§ 55-6-26 - Shares without certificate.
§ 55-6-27 - Restriction on transfer of shares and other securities.
§ 55-6-30 - Shareholders' preemptive rights.