Royals v. Piedmont Electric Repair Co.

LEWIS, Judge.

Since 1955, North Carolina has served as a pioneer and “shining light” in the protection of minority shareholder rights. Robert Savage McLean, Note, Minority Shareholders’ Rights in the Close Corporation under the New North Carolina Business Corporation Act, 68 N.C.L. Rev. 1109, 1125-26 (1990) (citing a quote by Professor F. Hodge O’Neal that appeared in the Charlotte Observer on May 20, 1989). In this appeal, we are asked to re-affirm that tradition of protection by upholding the dissolution of a closely-held corporation, nearly forty percent (40%) of whose shares have basically…