GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1999

S	1 

SENATE BILL 789

Short Title:  Charitable Nonprofit Notice.	(Public)

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Sponsors: Senator Soles.

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Referred to:  Judiciary I.

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April 7, 1999

A BILL TO BE ENTITLED
AN ACT TO MAKE CERTAIN CHANGES TO THE NOTICE TO BE GIVEN UPON THE SALE, LEASE, OR EXCHANGE OF THE ASSETS OF A CHARITABLE OR RELIGIOUS NONPROFIT CORPORATION UNDER THE NONPROFIT CORPORATION ACT.
The General Assembly of North Carolina enacts:
Section 1.  G.S. 55A-12-02(g) reads as rewritten:
"(g)	A charitable or religious corporation shall give written notice to the Attorney General 30 days before it sells, leases, exchanges, or otherwise disposes of all, or a majority of, its property if the transaction is not in the usual and regular course of its activities unless the Attorney General has given the corporation a written waiver of this subsection. The notice to the Attorney General required by this section shall include all the information that the Attorney General determines is required to allow a complete review of the transaction."
Section 2.  This act becomes effective October 1, 1999.