(a) A bank may establish one or more non-branch bank business offices as defined by G.S. 53C-1-4(46):
(1) If a proposed non-branch bank business office will offer a product, service, or other type of business not previously engaged in by the bank, the bank shall provide the Commissioner with written notification of the intent to open the office. The notification shall include the proposed location of the office and a description of the business to be conducted at the office. If the Commissioner does not request additional information or object to its establishment within 10 days of the date of receipt of the notification, the non-branch bank business office shall be deemed approved. In deciding whether to object to the establishment of a non-branch bank business office, the Commissioner shall consider, without limitation, whether the business proposed to be conducted at the non-branch bank business office is permissible for a bank, the costs of its establishment and ongoing operation and the impact of the costs on the bank's capital and profitability, and the ability of the bank's management to conduct the proposed business.
(2) If a proposed non-branch bank business office will offer only products, services, or other types of business already engaged in by the bank, the bank shall provide the Commissioner with written notification of the intent to open the office.
(b) An out-of-state bank may establish and operate a non-branch bank business office in this State upon written notice to the Commissioner.
(c) A bank or an out-of-state bank may close a non-branch bank business office at any time with notice to the Commissioner.
(d) No deposits may be taken at a non-branch bank business office. (2012-56, s. 4.)
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Last modified: March 23, 2014