{"data":{"id":"us-nc/n.c.-gen.-stat.-55-6-31","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 55-6-31","heading":"Corporation's acquisition of its own shares.","body":"(a)\tA corporation may acquire its own shares and shares so acquired constitute authorized but unissued shares.\n(b)\tIf the articles of incorporation prohibit the reissue of the acquired shares, the number of authorized shares is reduced by the number of shares acquired, effective upon amendment of the articles of incorporation.\n(c)\tRepealed by Session Laws 2005-268, s. 1, effective October 1, 2005. (1955, c. 1371, s. 1; 1957, c. 1039; 1959, c. 1316, s. 19; 1963, c. 666; 1967, c. 1163; 1969, c. 751, ss. 23-27, 45; 1973, c. 1067; 1985, c. 117, s. 3; 1989, c. 265, s. 1; 2005-268, s. 1.)","path":["Chapter 55. North Carolina Business Corporation Act.","Article 6. Shares and Distribution.","Part 3. Subsequent Acquisition of Shares by Shareholders and Corporation."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_55/GS_55-6-31.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:05:57Z","sha256":"508024013a3adf2625e8ea4272a6a23c753a0c0f43f74ab168145d9d6ec80cc2","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-55-6-30","next":"us-nc/n.c.-gen.-stat.-55-6-32-through-55-6-39"},"notice":"GroundRules: Original legal text. Not legal advice."}