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What is the Business Judgment Rule and How Does it Apply to North Carolina Corporations?

Under North Carolina law, directors are required to exercise good faith, do care, and loyalty, in the course of their actions.

Joe Dye Culik

What are Shareholder Inspection Rights Under the North Carolina Business Corporation Act?

The North Carolina Business Corporation Act gives shareholders what are called “inspection rights,” the right to inspect records of business

Joe Dye Culik

What is a Shareholder Meeting and What Happens at One?

Every North Carolina Corporation is required to have meeting of its shareholders. This usually occurs once a year. Find out what's involved.

Joe Dye Culik

The 4 Most Important Parts of Your Corporation’s Bylaws

Though corporate bylaws are often complex, there are four fundamental parts that form the foundation of any set of bylaws.

Joe Dye Culik

What is a “Close Corporation” Under North Carolina Law?

This post explains what a close corporation is and how it differs from a public corporation or other types of corporations.

Joe Dye Culik

Who is Owed a Fiduciary Duty, and Why Does it Matter?

Who is owed a fiduciary duty? We previously wrote a post involving a lawsuit for breach of fiduciary duty, and gave the definition of tha...

Joe Dye Culik

Do North Carolina LLCs Need to Have a Written Operating Agreement?

Under North Carolina law do limited liability companies (LLCs) need to have operating agreements like corporations.

Joe Dye Culik

Shareholder Lawsuit Dismissed by NC Business Court a Reminder of Corporate Liability Principles

The North Carolina Business Court has dismissed a lawsuit brought by a 50% owner of a corporation reiterating key principles.

Joe Dye Culik

Minority Shareholder’s Lawsuit for Bad Faith May Proceed, Says N.C. Business Court

Corporations -- and especially closely held and family corporations -- must be careful to observe the rights of minority shareholders.

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