NORTH CAROLINA GENERAL ASSEMBLY

1963 SESSION

 

 

CHAPTER 1065

HOUSE BILL 1021

 

 

AN ACT TO AMEND G.S. 55-67, SO AS TO DEFINE THE WORD "CONTROLS".

 

The General Assembly of North Carolina do enact:

 

Section 1.  Subsection (c) of G.S. 55-67 is hereby amended by adding the following sentence at the end thereof:

"Shares represented at a meeting by a revocable proxy relating to that meeting or adjourned meetings thereof shall not be deemed shares 'controlled' within the meaning of this subsection."

Sec. 2.  All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 3.  This Act shall be in full force and effect from and after its ratification.

In the General Assembly read three times and ratified, this the 20th day of June, 1963.