The full text of G.S. 20-58.5 (Duration of security interest in favor of corporations which dissolve or become inactive), with plain-English commentary from North Carolina DWI defense attorneys Chris Adkins and Chris Purkey in the side column. Article 3: Motor Vehicle Act of 1937.
§ 20-58.5. Duration of security interest in favor of corporations which dissolve or become inactive.
Any security interest recorded in favor of a corporation which, since the recording of such security interest, has dissolved or become inactive for any reason, and which remains of record as a security interest of such corporation for a period of more than three years from the date of such dissolution or becoming inactive, shall become null and void and of no further force and effect.
(1961, c. 835, s. 6; 1969, c. 838, s. 1; 1979, c. 145, s. 4.)
Official text of N.C. Gen. Stat. § 20-58.5 as published by the North Carolina General Assembly (Chapter 20 PDF, retrieved November 10, 2026). Verify the current version on ncleg.gov ↗.
ADKINS & PURKEY, PLLC
Your next move starts here.
Talk with the firm about your charge, your license, and the path ahead.