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Real and personal property; nonprofit association as devisee or beneficiary.

G.S. 59B-5
in effect
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§ 59B-5.  Real and personal property; nonprofit association as devisee or beneficiary. (a) A nonprofit association is a legal entity separate from its members for the purposes of acquiring, holding, encumbering, and transferring real and personal property. (b) A nonprofit association, in its name, may acquire, hold, encumber, or transfer an estate or interest in real or personal property. (c) A nonprofit association may be a beneficiary of a trust or contract or a devisee. (d) Any judgments and executions against a nonprofit association bind its real and personal property in like manner as if it were incorporated. (2006-226, s. 1; 2011-284, s. 59.)
Source: North Carolina General Assembly (ncleg.gov)URL: https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_59B/GS_59B-5.htmlFetched: 10/19/2026

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