{"data":{"id":"us-nc/n.c.-gen.-stat.-58-7-125","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 58-7-125","heading":"Dividends not payable when capital stock impaired; liability of stockholders for unlawful dividends.","body":"No dividend shall be paid by any company incorporated in this State when its capital stock is impaired, or when such payment would have the effect of impairing its capital stock; and any dividend so paid subjects the stockholders receiving it to a joint and several liability to the creditors of said company to the extent of the dividend so paid. (1899, c. 54, s. 31; 1903, c. 536, s. 3; Rev., s. 4736; C.S., s. 6339; 1945, c. 386.)","path":["Chapter 58. Insurance.","Article 7. General Domestic Companies."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_58/GS_58-7-125.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:06:53Z","sha256":"6f6d8227466646f181970b231f6e206e7b6d80c1aa848ccdeff9bac88f4c7cc2","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-58-7-120","next":"us-nc/n.c.-gen.-stat.-58-7-130"},"notice":"GroundRules: Original legal text. Not legal advice."}