State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-10

§53‑10.  Increase of capital stock.

(a)        A corporation doingbusiness under the provisions of this Chapter may increase its capital stock asprovided by law for other corporations.

(b)        A bank may, withthe approval of the Commissioner of Banks and by the vote of the holders of atleast two thirds of the stock of the particular class or classes of stockentitled to vote on such proposal, amend its charter to authorize an increasein the common stock of the bank in the category of authorized but unissued stockin an amount not to exceed ten percent (10%) of the outstanding shares of suchclass or classes of stock and shares so authorized shall be deemed releasedfrom preemptive rights. Such authorized but unissued stock may be issued fromtime to time to officers or employees of the bank pursuant to a stock option orstock purchase plan adopted in accordance with this Chapter. (1921,c. 4, s. 10; C.S., s. 217(i); 1965, c. 1032; 1967, c. 789, s. 3.)