NORTH CAROLINA GENERAL ASSEMBLY

1967 SESSION

 

 

CHAPTER 950

SENATE BILL 613

 

 

AN ACT TO PROVIDE FOR REGISTRATION OF CERTIFICATES OF CORPORATE MERGERS OR CONSOLIDATION AFFECTING TITLE TO REAL PROPERTY.

 

The General Assembly of North Carolina do enact:

 

Section 1.  G.S. 55-110(b) is hereby amended by adding the following sentence to the end thereof: "The provisions of this subsection are subject to the provisions of G.S. 47‑18.1, with regard to the registration of certificates of merger or consolidation if the title to real property is affected."

Sec. 2.  G.S. 55A-42(4) is hereby amended by adding the following sentence to the end thereof, "The provisions of this subdivision are subject to the provisions of G.S. 47-18.1, with regard to the registration of certificates of merger or consolidation if the title to real property is affected."

Sec. 3.  Chapter 47 of the General Statutes is hereby amended by inserting the following Section:

"§ 47-18.1.  Registration of Certificate of Corporate Merger or Consolidation. (a) If title to real property in this State is transferred by operation of law upon the merger or consolidation of two or more corporations, such transfer is effective against lien creditors or purchasers for a valuable consideration from the corporation formerly owning the property, only from the time of registration of a certificate thereof as provided in this Section, in the county where the land lies, or if the land is located in more than one county, then in each county where any portion of the land lies to be effective as to the land in that county.

"(b)      The Secretary of State shall adopt uniform certificates of merger or consolidation, to be furnished for registration, and shall adopt such fees as are necessary for the expense of such certification.

"(c)       A certificate of the Secretary of State prepared in accordance with this Section shall be registered by the Register of Deeds in the same manner as deeds, and for the same fees, but no formalities as to acknowledgement, probate, or approval by any other officer shall be required. The name of the corporation formerly owning the property shall appear in the 'Grantor' index, and the name of the corporation owning the property by virtue of the merger or consolidation shall appear in the 'Grantee' index."

Sec. 4.  All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 5.  This Act shall be effective on and after October 1, 1967.

In the General Assembly read three times and ratified, this the 27th day of June, 1967.