2009 North Carolina Code
Chapter 113 - Conservation and Development.
§ 113-67. Limitations as to dividends.
§ 113‑67. Limitations as to dividends.
The shares of stock of corporations organized under this Article shall have a par value and, except as provided in G.S. 113‑69 in respect to distributions in kind upon dissolution, no dividend shall be paid thereon at a rate in excess of six per centum (6%) per annum on stock having a preference as to dividends, or eight per centum (8%) per annum on stock not having a preference as to dividends, except that any such dividends may be cumulative without interest. (1933, c. 178, s. 7.)
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