North Carolina General Statutes Chapter 59B. Uniform Unincorporated Nonprofit Association Act § 59B-5. Real and personal property; nonprofit association as devisee or beneficiary
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(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.
Cite this article: FindLaw.com - North Carolina General Statutes Chapter 59B. Uniform Unincorporated Nonprofit Association Act § 59B-5. Real and personal property; nonprofit association as devisee or beneficiary - last updated January 01, 2020 | https://codes.findlaw.com/nc/chapter-59b-uniform-unincorporated-nonprofit-association-act/nc-gen-st-sect-59b-5.html
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