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They also administer the North Carolina Securities Act and the Uniform Commercial Code, charter corporations, register trademarks, manage land records, and register legislative lobbyists. [2] They are empowered to investigate violations of lobbying laws and impose civil fines not exceeding $5,000 for infractions. [ 22 ]
The North Carolina Department of Commerce was created in 1971 by the North Carolina State Government Reorganization Act, specifically General Statute 143B, Article 10, Paragraph 143B-427: [1] [2] [3] [4]
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Ministry of Development (MR) – Central Registration and Information on Business (CEIDG) [70] – company register for natural persons trading as sole traders or their civil law partnerships (searchable); such companies are prohibited from performing certain activities (e.g. operating a life insurance company), and proper agricultural activity ...
A business entity is an entity that is formed and administered as per corporate law [Note 1] in order to engage in business activities, charitable work, or other activities allowable. Most often, business entities are formed to sell a product or a service. There are many types of business entities defined in the legal systems of various countries.
There are a number of legal benefits that come with incorporation. One significant legal benefit is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal
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