GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 1999
SESSION LAW 1999-151
The General Assembly of North Carolina enacts:
Section 1. G.S. 55-15-02(a) reads as rewritten:
"(a) No foreign
corporation transacting business in this State without permission obtained
through a certificate of authority under this Chapter or through domestication
under prior acts shall be permitted to maintain any action or proceeding in any
court of this State unless such the foreign corporation shall
have has obtained a certificate of authority prior to trial; nor
shall any action or proceeding be maintained in any court of this State by any
successor or assignee of such corporation on any cause of action arising out of
the transaction of business by such corporation in this State until:
(1) A
certificate of authority shall have been obtained by such corporation or by a
foreign corporation which has acquired substantially all of its assets, or
(2) Substantially
all of its assets have been acquired by a domestic corporation or one or more
individuals. trial.
An issue arising under this subsection must be raised by motion and determined by the trial judge prior to trial."
Section 2. G.S. 55A-15-02(a) reads as rewritten:
"(a) No foreign
corporation conducting affairs in this State without permission obtained
through a certificate of authority under this Chapter or through domestication
under prior acts shall be permitted to maintain any action or proceeding in any
court of this State unless each the foreign corporation shall
have has obtained a certificate of authority prior to trial; nor
shall any action or proceeding be maintained in any court of this State by any
successor or assignee of such corporation on any cause of action arising out of
the conduct of affairs by such corporation in this State until:
(1) A
certificate of authority shall have been obtained by the corporation or by a
foreign entity which has acquired substantially all of its assets and is
entitled to obtain a certificate of authority; or
(2) Substantially
all of its assets have been acquired by a foreign entity which is not entitled
to obtain a certificate of authority by a domestic corporation or by one or
more individuals. trial.
An issue arising under this subsection shall must be
raised by motion and determined by the trial judge prior to trial."
Section 3. This act becomes effective October 1, 1999, and applies to causes of action or proceedings filed on or after that date.
In the General Assembly read three times and ratified this the 27th day of May, 1999.
s/ Dennis A. Wicker
President of the Senate
s/ James B. Black
Speaker of the House of Representatives
s/ James B. Hunt, Jr.
Governor
Approved 4:40 p.m. this 4th day of June, 1999