reglab/housing_qa huggingface dataset:
NC Gen Stat § 54-116 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 16 - Organization of Associations.|§ 54-116 - Bylaws adopted.

 54-116. Bylaws adopted.At the time of making the articles of incorporation the incorporators shall make bylaws which shall provide:(1) The name of the corporation.(2) The purposes for which it is formed.(3) Qualifications for membership.(4) The date of the annual meeting; the manner in which members shall be notified of meetings; the manner of conducting the meetings; the number of members which shall constitute a quorum at the meetings, and regulations as to voting.(5) The number of members of the board of directors; powers and duties; the compensation and duties of officers elected by the board of directors.(6) In the case of selling agencies or productive societies, regulations for grading.(7) In the case of selling agencies or productive societies, regulations governing the sale of products by the members through the organization.(8) The par value of the shares of capital stock.(9) The conditions upon which shares may be issued, paid in, transferred, and withdrawn.(10) The manner in which the reserve fund shall be accumulated.(11) The manner in which the dividends shall be determined and paid to members.(12) Associations, societies, companies or exchanges, organized hereunder to engage in the telephone or electric light business upon a mutual basis, shall adopt a bylaw limiting the patrons and subscribers to members of the association.(13) In the case of apartment housing, regulations governing the rental of apartments. (1915, c. 144, s. 5; C.S., s. 5247; 1925, c. 179, s. 4; 1959, c. 991.)
NC Gen Stat § 54-117 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 16 - Organization of Associations.|§ 54-117 - General corporation law or general nonprofit corporation law applied; dealing in products of, or renting to, nonmembers.

 54-117. General corporation law or general nonprofit corporation law applied; dealing in products of, or renting to, nonmembers.All mutual associations shall be maintained in accordance with the general corporation law or general nonprofit corporation law, except as otherwise provided for in this Subchapter. And no corporation or association hereafter organized under this Subchapter for doing business in this State shall be permitted to deal in the products of nonmembers to an amount greater in value than such as are handled by it for members: Provided, no housing corporation or association hereafter organized under this Subchapter shall be permitted to rent to nonmembers for a period longer than 90 days. (1915, c. 144, s. 17; C.S., s. 5248; 1925, c. 179, s. 1; 1931, c. 447, s. 2; 1949, c. 1042, s. 2(b); 1985, c. 542, s. 3.)
NC Gen Stat § 54-118 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 16 - Organization of Associations.|§ 54-118 - Other corporations admitted.

 54-118. Other corporations admitted.All mutual corporations, companies, or associations heretofore organized and doing business under other incorporation statutes, or which have attempted to so organize and do business, shall have the benefit of all of the provisions of this Subchapter, and be bound thereby on filing with the Secretary of State a written declaration, signed and sworn to by the president and secretary, to the effect that the mutual company or association has by a majority vote of its shareholders decided to accept the benefits of and to be bound by the provisions of this Subchapter. No association organized under this Subchapter shall be required to do or perform anything not specifically required herein, in order to become a corporation. (1915, c. 144, s. 16; C.S., s. 5249; 1925, c. 179, s. 1; 1985, c. 542, s. 4.)
NC Gen Stat § 54-118.1 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 16 - Organization of Associations.|§ 54-118.1 - License taxes.

 54-118.1. License taxes.On and after June 1, 1955, the provisions of Article 2, Subchapter I of Chapter 105 of the General Statutes of North Carolina shall apply to an association or corporation organized under the provisions of this Subchapter. (1955, c. 1313, s. 1.)
NC Gen Stat § 54-118.2 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 16 - Organization of Associations.|§ 54-118.2 - Franchise taxes.

 54-118.2. Franchise taxes.On and after July 1, 1955, the provisions of Article 3, Subchapter I of Chapter 105 of the General Statutes of North Carolina shall apply to an association or corporation organized under the provisions of this Subchapter. (1955, c. 1313, s. 1.)
NC Gen Stat § 54-119 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 17 - Stockholders and Officers.|§ 54-119 - Certificate for stock fully paid.

 54-119. Certificate for stock fully paid.Certificates of stock shall not be issued to any subscriber until fully paid, but the bylaws of the association may allow subscribers to vote as shareholders: Provided, part of the stock subscribed for has been paid in cash. (1915, c. 144, s. 11; C.S., s. 5250.)
NC Gen Stat § 54-120 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 17 - Stockholders and Officers.|§ 54-120 - Ownership of shares limited.

 54-120. Ownership of shares limited.No shareholder in any such association shall own shares of a greater aggregate par value than twenty percent (20%) of the paid-in capital stock, except as hereinafter provided, or be entitled to more than one vote. A mutual association shall reserve the right of purchasing the stock of any member whose stock is for sale, and may restrict the transfer of stock to such persons as are made eligible to membership in the bylaws. (1915, c. 144, s. 9; C.S., s. 5251; 1925, c. 179, s. 1.)
NC Gen Stat § 54-121 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 17 - Stockholders and Officers.|§ 54-121 - Shares issued on purchase of business.

 54-121. Shares issued on purchase of business.Whenever an association, created under this Subchapter, shall purchase the business of another association or person, it may pay for the same in whole or in part by issuing to the selling association or persons shares of its capital stock to an amount which at par value would equal the fair market value of the business so purchased, and in such case the transfer to the association of such business at such valuation shall be equivalent to payment in cash for the shares of stock so issued. (1915, c. 144, s. 10; C.S., s. 5252.)
NC Gen Stat § 54-122 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 17 - Stockholders and Officers.|§ 54-122 - Absent members voting.

 54-122. Absent members voting.At any regularly called general or special meeting of the shareholders a written vote received by mail from any absent shareholder, and signed by him, may be read in such meeting, and shall be equivalent to a vote of such of the shareholders so signing: Provided, he has been previously notified in writing of the exact motion or resolution upon which such vote is taken, and a copy of same is forwarded with and attached to the vote so mailed by him. In case of sickness or other unavoidable absence of a member, he shall be allowed to vote by proxy in writing; but no member shall vote more than one such proxy. (1915, c. 144, s. 12; C.S., s. 5253.)
NC Gen Stat § 54-123 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 17 - Stockholders and Officers.|§ 54-123 - Directors and other officers.

 54-123. Directors and other officers.Every such association shall be managed by a board of not less than five directors. The directors shall be elected by and from the stockholders of the association at such time and for such term of office as the bylaws may prescribe, and shall hold office for the time for which elected and until their successors are elected and shall enter upon the discharge of such duties as are prescribed in the bylaws; but a majority of the stockholders shall have the power at any regular or special stockholders' meeting, legally called, to remove any director or officer for cause, and fill the vacancy, and thereupon the director or officer so removed shall cease to be a director or officer of the association. The officers of every such association shall be a president, one or more vice-presidents, a secretary and treasurer, who shall be elected annually by the directors, and each of the officers must be a director of the association. The office of secretary and treasurer may be combined, and when so combined the person filling the office shall be secretary-treasurer. (1915, c. 144, s. 6; C.S., s. 5254.)
NC Gen Stat § 54-124 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 18 - Powers and Duties.|§ 54-124 - Nature of business authorized.

 54-124. Nature of business authorized.An association created under this Subchapter shall have power to conduct any agricultural, housing, horticultural, forestry, dairy, mercantile, mining, manufacturing, telephone, electric light, power, storage, refrigeration, flume, irrigation, water, sewerage, or mechanical business, or purchase, maintain and use fire-fighting equipment, or conduct any other lawful business, on the mutual plan. (1915, c. 144, s. 8; C.S., s. 5255; 1925, c. 179, ss. 1, 3; 1949, c. 1042, s. 2; 1955, c. 746, s. 2; 1985, c. 542, s. 5.)
NC Gen Stat § 54-125 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 18 - Powers and Duties.|§ 54-125 - Amendment of articles.

 54-125. Amendment of articles.The association may amend its articles of incorporation by a majority vote of its shareholders at any regular shareholders' meeting, or any special shareholders' meeting called for that purpose, on 10 days' notice to the shareholders. The power to amend shall include the power to increase or diminish the amount of capital stock and the number of shares: Provided, the amount of the capital stock shall not be diminished below the amount of the paid-up capital at the time the amendment is adopted. Within 30 days after the adoption of an amendment to its articles of incorporation, an association shall cause a copy of such amendment adopted to be recorded in the office of the Secretary of State and of the register of deeds of the county where the principal place of business is located. (1915, c. 144, s. 7; C.S., s. 5256; 1967, c. 823, s. 14.)
NC Gen Stat § 54-126 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 18 - Powers and Duties.|§ 54-126 - Apportionment of earnings.

 54-126. Apportionment of earnings.The net earnings or losses shall be apportioned among the members in accordance with the ratio which each member's patronage during the period involved bears to total patronage by all members during the period. "Patronage" means amount of purchases, sales, business, labor, wages or other similar criteria. (1915, c. 144, s. 13; C.S., s. 5257; 1925, c. 179, s. 5; 1985, c. 542, s. 6.)
NC Gen Stat § 54-127 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 18 - Powers and Duties.|§ 54-127 - Time of allocation.

 54-127. Time of allocation.The profits or net earnings of such association shall be allocated to those entitled thereto, at such times as the bylaws shall prescribe, which shall be as often as once in 12 months. (1915, c. 144, s. 14; C.S., s. 5258; 1985, c. 542, s. 7.)
NC Gen Stat § 54-128 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 18 - Powers and Duties.|§ 54-128 - Annual reports.

 54-128. Annual reports.Every association organized under the provisions of this Subchapter shall annually, on or before the first day of March of each year, make a report to the Secretary of State; such report shall contain the name of the company, its principal place of business in this State, and generally a statement as to its business, showing total amount of business transacted, amount of capital stock subscribed for and paid in, number of shareholders, total expenses of operation, amount of indebtedness or liabilities, and its profits and losses. A copy of such report shall also be filed with the division of markets in the Department of Agriculture and Consumer Services. (1915, c. 144, s. 15; C.S., s. 5259; 1997-261, s. 109.)
NC Gen Stat § 54-129 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 19 - Purpose and Organization.|§ 54-129 - Declaration of policy.

 54-129. Declaration of policy.In order to promote, foster, and encourage the intelligent and orderly producing and marketing of agricultural products through cooperation, and to eliminate speculation and waste, and to make the distribution of agricultural products as direct as can be efficiently done between producer and consumer, and to stabilize the marketing problems of agricultural products, this Subchapter is enacted. (1921, c. 87, s. 1; C.S., s. 5259(a); 1935, c. 230, s. 1.)
NC Gen Stat § 54-130 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 19 - Purpose and Organization.|§ 54-130 - Definitions and nature.

 54-130. Definitions and nature.As used in this Subchapter-(1) Agricultural Products. - The term "agricultural products" shall include horticultural, viticultural, forestry, dairy, livestock, poultry, bee, and any farm products.(2) Association. - The term "association" meansa. Any corporation organized under this Subchapter; orb. Any foreign corporation which1. Is organized under any general or special act of another state or the District of Columbia as a cooperative association for the mutual benefit of its members and other patrons,2. Confines its operations in this State to the purposes specified in, and restricts the return on the stock or membership capital and the amount of its business with nonmembers to the limits placed thereon by, this Subchapter for corporations organized hereunder, and3. Is authorized to transact business in this State pursuant to G.S. 54-139.(3) Charter. - The term "charter" includes the original articles of incorporation, together with all amendments thereto and articles of merger or consolidation.(4) Member. - The term "member" shall include actual members of associations without capital stock and holders of stock in associations organized with capital stock.(5) Person. - The term "person" shall include individuals, firms, partnerships, corporations, and associations.Associations organized or domesticated hereunder shall be deemed nonprofit, inasmuch as they are not organized to make profits for themselves, as such, or for their members, as such, but only for their members as producers.This Subchapter shall be referred to as the "Cooperative Marketing Act." (1921, c. 87, s. 2; C.S., s. 5259(b); 1935, c. 436, s. 1; 1963, c. 1168, ss. 1-3.)
NC Gen Stat § 54-131 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 19 - Purpose and Organization.|§ 54-131 - Who may organize.

 54-131. Who may organize.Three or more persons engaged in the production of agricultural products may form a nonprofit, cooperative association, with or without capital stock, under the provisions of this Subchapter. (1921, c. 87, s. 3; C.S., s. 5259(c); 1979, c. 908, s. 1.)
NC Gen Stat § 54-132 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 19 - Purpose and Organization.|§ 54-132 - Purposes.

 54-132. Purposes.An association may be organized to engage in any activity in connection with the producing, marketing or selling of the agricultural products of its members and other farmers, or with the harvesting, preserving, drying, processing, canning, packing, storing, handling, shipping, or utilization thereof, of the manufacturing or marketing of the by-products thereof; or in connection with the manufacturing, selling, or supplying to its members of machinery, equipment, or supplies; or in the financing of the above-enumerated activities; or in any one or more of the activities specified herein. (1921, c. 87, s. 4; C.S., s. 5259(d); 1933, c. 350, s. 2; 1935, c. 230, s. 2.)
NC Gen Stat § 54-133 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 19 - Purpose and Organization.|§ 54-133 - Preliminary investigation.

 54-133. Preliminary investigation.Every group of persons contemplating the organization of an association under this Subchapter is urged to communicate with the Chief of the Division of Markets, who will inform it whatever a survey of the marketing conditions affecting the commodities to be handled by the proposed association indicates regarding probable success. (1921, c. 87, s. 5; C.S., s. 5259(e).)
NC Gen Stat § 54-135 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 19 - Purpose and Organization.|§ 54-135 - Amendments to articles of incorporation.

 54-135. Amendments to articles of incorporation.(a) An association may amend its charter from time to time in any and as many respects as may be desired, so long as its charter as amended contains only such provisions as are lawful under this Subchapter.(b) Amendments to the charter shall be made as follows: The board of directors shall by a vote of not less than two-thirds of all of the members of the board, adopt a resolution approving the proposed amendment or amendments and directing that the proposed amendment or amendments be submitted to a vote at a meeting of members, which may be either an annual or a special meeting. Written or printed notice setting forth the proposed amendment or amendments, or a summary of the changes to be effected thereby shall be given to each member entitled to vote at such meeting, within the time and in the manner provided in this Subchapter for the giving of notice of meetings of members. The proposed amendment shall be adopted upon receiving at least a majority of the votes entitled to be cast by members present or represented by proxy at such meeting.(c) The articles of amendment shall set forth:(1) The name of the association;(2) The amendment or amendments so adopted;(3) A statement setting forth the date of the meeting of the board of directors at which the amendment or amendments were approved by the board, that a quorum was present at such meeting, and that such approval received a vote of not less than two-thirds of all the members of the board;(4) A statement setting forth the date of the meeting of members at which the amendment was adopted, that a quorum was present at such meeting, and that such amendment received at least a majority of the votes entitled to be cast by members present or represented by proxy at such meeting;(5) The articles of amendment shall be executed by the association and shall be filed all as provided in G.S. 55A-4;(6) A certified copy of the articles of amendment shall be filed with the Chief of the Division of Markets. (1921, c. 87, s. 9; C.S., s. 5259(g); 1935, c. 230, s. 5; 1963, c. 1168, s. 6.)
NC Gen Stat § 54-137 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 19 - Purpose and Organization.|§ 54-137 - General and special meetings; how called.

 54-137. General and special meetings; how called.In its bylaws each association shall provide for one or more regular meetings annually. The board of directors shall have the right to call a special meeting at any time, and ten percent (10%) of the members or stockholders may file a petition stating the specific business to be brought before the association, and demand a special meeting at any time. Such meeting must thereupon be called by the directors. Notice of all meetings, together with a statement of the purposes thereof, shall be mailed to each member at least 10 days prior to the meeting: Provided, however, that the bylaws may require instead that such notice may be given by publication in a newspaper of general circulation, published at the principal place of business of the association. (1921, c. 87, s. 11; C.S., s. 5259(i).)
NC Gen Stat § 54-138 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 19 - Purpose and Organization.|§ 54-138 - Conflicting laws not to apply.

 54-138. Conflicting laws not to apply.Any provisions of law which are in conflict with this Subchapter shall not be construed as applying to the associations herein provided for. (1921, c. 87, s. 20; C.S., s. 5259(j).)
NC Gen Stat § 54-139 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 19 - Purpose and Organization.|§ 54-139 - Foreign cooperative corporations; limitation on use of word "cooperative."

 54-139. Foreign cooperative corporations; limitation on use of word "cooperative."(a) A foreign corporation (with or without capital stock) that can qualify as an association, as defined in G.S. 54-130(2)b1 and 2, may be authorized to transact business in this State under the provisions of Chapter 55A of the General Statutes.(b) No person other than an association organized under this Subchapter, or a foreign corporation authorized to transact business in this State pursuant to subsection (a) of this section, or an electric or telephone membership corporation domesticated pursuant to G.S. 117-28, or an organization created under or governed by Subchapter IV of Chapter 54 of the General Statutes, shall be entitled to organize, domesticate, or transact business in this State if the corporate or other business name or title of such person contains the word "cooperative." (1921, c. 87, s. 21; C.S., s. 5259(k); 1963, c. 1168, s. 8; 1985, c. 542, s. 8; 1993, c. 552, s. 20.)
NC Gen Stat § 54-140 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 19 - Purpose and Organization.|§ 54-140 - Association heretofore organized may adopt the provisions of this Subchapter.

 54-140. Association heretofore organized may adopt the provisions of this Subchapter.Any corporation or association organized under previously existing statutes may, by a majority vote of its stockholders or members, be brought under the provisions of this Subchapter by limiting its membership and adopting the other restrictions as provided herein. It shall make out in duplicate a statement signed and sworn to by its directors, upon forms supplied by the Secretary of State, to the effect that the corporation or association has by a majority vote of its stockholders or members decided to accept the benefits and be bound by the provisions of this Subchapter. Articles of incorporation shall be filed as required in G.S. 54-134, except that they shall be signed by the members of the board of directors. The filing fee shall be the same as for filing an amendment to articles of incorporation. (1921, c. 87, s. 24; C.S., s. 5259(l).)
NC Gen Stat § 54-141 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 19 - Purpose and Organization.|§ 54-141 - Associations not in restraint of trade.

 54-141. Associations not in restraint of trade.No association organized hereunder shall be deemed to be a combination in restraint of trade or an illegal monopoly; or an attempt to lessen competition or fix prices arbitrarily, nor shall the marketing contracts or agreements between the association and its members, or any agreements authorized in this Subchapter be considered illegal or in restraint of trade. (1921, c. 87, s. 26; C.S., s. 5259(m).)