Under a new state law, North Carolina businesses and not-for-profit entities now have greater flexibility to conduct corporate meetings and other business electronically.
HB 320 (S.L. 2021-162) authorizes remote meetings of corporation shareholders, nonprofit corporation members, and mutual insurance company policy holders. It also authorizes nonprofit corporations to conduct all business electronically, and makes several technical and conforming changes to the Business Corporation Act and Nonprofit Corporation Act.
Even before the COVID-19 pandemic hit, business and nonprofits were needing broader latitude in the law governing virtual meetings and electronic communication. Many of the bill’s provisions were temporarily authorized by Executive Orders issued by Governor Roy Cooper. Governor Cooper signed the bill into law on September 20, 2021.
The bill enjoyed bipartisan, unanimous support in the House and Senate. A detailed summary of the provisions of the new law are available here.
If you have questions about this issue or other policy matters, please contact NCACPA Director of Advocacy Robert Broome, CAE.