58-73-20. Company not to plead ultra vires.
Any company which executes any bond, obligation or undertaking under the provisions of this Article is estopped, in any proceeding to enforce the liability which it assumes to incur, to deny its corporate power to execute such instrument or assume such liability. (1899, c. 54, s. 49; 1901, c. 706, s. 1, subsec. 5; Rev., s. 275; C.S., s. 342.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 73 - Bonds in Surety Company.
§ 58-73-1 - State officers may be bonded in surety company.
§ 58-73-5 - When surety company sufficient surety on bonds and undertakings.
§ 58-73-10 - Clerk to notify county commissioners of condition of company.
§ 58-73-15 - Release of company from liability.
§ 58-73-20 - Company not to plead ultra vires.
§ 58-73-25 - Failure to pay judgment is forfeiture.
§ 58-73-30 - On presentation of proper bond officer to be inducted.