Raleigh Swimming Pool Co. v. Wake Forest Country Club

BEITT, Judge.

In defending the judgment appealed from, defendant contends G.S. 105-230 and G.S. 105-231 clearly provide that when articles of incorporation are suspended pursuant to G.S. 105-230, “all the powers, privileges, and franchises conferred upon” the corporation cease and determine; and “any corporate act performed or attempted to be performed during the period of such suspension shall be invalid and of no effect.”

Plaintiff contends that by virtue of other statutes, particularly G.S. 55-114, and more particularly subsection (b) thereof, and decisions of the Supreme Court, that the…