59B-5. Real and personal property; nonprofit association as devisee or beneficiary.
(a) A nonprofit association is a legal entity separate from its members for the purposes of acquiring, holding, encumbering, and transferring real and personal property.
(b) A nonprofit association, in its name, may acquire, hold, encumber, or transfer an estate or interest in real or personal property.
(c) A nonprofit association may be a beneficiary of a trust or contract or a devisee.
(d) Any judgments and executions against a nonprofit association bind its real and personal property in like manner as if it were incorporated. (2006-226, s. 1; 2011-284, s. 59.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 59B - Uniform Unincorporated Nonprofit Association Act
§ 59B-3 - Supplementary general principles of law and equity.
§ 59B-4 - Title to property; choice of law.
§ 59B-5 - Real and personal property; nonprofit association as devisee or beneficiary.
§ 59B-6 - Statement of authority as to real property.
§ 59B-7 - Liability of members or other persons.
§ 59B-8 - Capacity to assert and defend; standing.
§ 59B-9 - Effect of judgment or order.
§ 59B-10 - Disposition of personal property of inactive nonprofit association.
§ 59B-11 - Appointment of agent to receive service of process.
§ 59B-12 - Claim not abated by change.
§ 59B-14 - Uniformity of application and construction.
§ 59B-15 - Effect as to conveyances by trustees; prior deeds validated.