North Carolina General Statutes Chapter 53 Regulation of Financial Services

Article 1 - Definitions.

• N.C. Gen. Stat. § 53-1.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012

Article 1A - General Provisions.

• N.C. Gen. Stat. § 53-1.1.   Banking definitions applicable to this Chapter
  Except as otherwise provided by law, the definitions contained in G.S. 53C-1-4 shall apply to terms used in this Chapter. (2012-56, s. 3.)

Article 2 - Creation.

• N.C. Gen. Stat. § 53-2.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-3.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-4.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-5.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-6.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-7.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-8.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-9.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-9.1.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-10.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-11.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-12.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-13.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-14.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-15.   Repealed by Session Laws 1947, c. 696
• N.C. Gen. Stat. § 53-16.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-17.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-17.1.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-17.2.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012

Article 3 - Dissolution and Liquidation.

• N.C. Gen. Stat. § 53-18.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-19.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-20.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-21.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-22.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-23.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-24.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-25.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-26.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-27.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-28.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-29.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-30.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-31.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-32.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-33.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-34.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-35.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-36.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012

Article 4 - Reopening of Closed Banks.

• N.C. Gen. Stat. § 53-37.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-38.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012

Article 5 - Stockholders.

• N.C. Gen. Stat. § 53-39.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-40.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-41.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-42.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-42.1.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012

Article 6 - Powers and Duties.

• N.C. Gen. Stat. § 53-43.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-43.1.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-43.2.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-43.3.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-43.4.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-43.5.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-43.6.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-43.7.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-44.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-44.1.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-44.2.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-45.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-46.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-46.1.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-47.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-48.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-49.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-50.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-51.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-52.   Repealed by Session Laws 1981, c. 599, s. 19, effective October 1, 1981
• N.C. Gen. Stat. § 53-53.   Repealed by Session Laws 1981, c. 599, s. 18, effective October 1, 1981
• N.C. Gen. Stat. § 53-54.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-55.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-56.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-57 through 53-58.   Repealed by Session Laws 1965, c. 700, s. 2
• N.C. Gen. Stat. § 53-59.   Repealed by Session Laws 1991, c. 677, s. 3
• N.C. Gen. Stat. § 53-60.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-61.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-62.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-63.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-64.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-65.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-66.   Repealed by Session Laws 1983, c. 214, s. 7, effective April 22, 1983
• N.C. Gen. Stat. § 53-67.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-68.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-69.   Repealed by Session Laws 1945, c. 635
• N.C. Gen. Stat. § 53-70.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-71.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-72.   Repealed by Session Laws 1971, c. 244, s. 3
• N.C. Gen. Stat. § 53-73.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-74.   Repealed by Session Laws 1971, c. 244, s. 3
• N.C. Gen. Stat. § 53-75.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-76.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-77.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-77.1.   Repealed by Session Laws 1989, c. 187, s. 9
• N.C. Gen. Stat. § 53-77.1A.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-77.2.   Repealed by Session Laws 1971, c. 319, s. 2
• N.C. Gen. Stat. § 53-77.2A.   Repealed by Session Laws 1995 (Regular Session, 1996), c. 556, s. 1
• N.C. Gen. Stat. § 53-77.3.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012

Article 7 - Officers and Directors.

• N.C. Gen. Stat. § 53-78.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-79.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-80.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-81.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-82.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-83.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-84.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-85.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-86.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-87.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-87.1.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-88.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-89.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-90.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-91.   Repealed by Session Laws 1995, c. 129, s. 17
• N.C. Gen. Stat. § 53-91.1.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-91.2.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-91.3.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012

Article 8 - Commissioner of Banks and State Banking Commission.

• N.C. Gen. Stat. § 53-92.   (Repealed effective April 1, 2013) Appointment of Commissioner of Banks; State Banking Commission
• N.C. Gen. Stat. § 53-92.1.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-93.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-93.1.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-94.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-95.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-96.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-96.1.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-97.   Repealed by Session Laws 1983, c. 328, s. 4, effective June 1, 1983
• N.C. Gen. Stat. § 53-98.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-99.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-99.1.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-100.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-101.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-102.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-103.   Repealed by Session Laws 1945, c. 743, s. 1
• N.C. Gen. Stat. § 53-104.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-104.1.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-105.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-106.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-107.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-107.1.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-107.2.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-108.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-109.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-110.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-111.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-112.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-113.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-114.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-115.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-116.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012

Article 9 - Bank Examiners.

• N.C. Gen. Stat. § 53-117.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-118.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-119.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-120.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-121.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-122.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-123.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012

Article 10 - Penalties.

• N.C. Gen. Stat. § 53-124.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-125.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-126.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-127.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-128.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-129.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-130.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-131.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-132.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-133.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-134.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-135.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012

Article 11 - Industrial Banks.

• N.C. Gen. Stat. § 53-136.   Industrial bank defined
  The term "industrial bank," as used in this Article shall be construed to mean any corporation organized or authorized under this Article which is...
• N.C. Gen. Stat. § 53-137.   Manner of organization
  Any number of persons, not less than five, may organize an industrial bank by setting forth in a certificate of incorporation, under their hands...
• N.C. Gen. Stat. § 53-138.   Corporate title
  Every corporation incorporated or reorganized pursuant to the provisions of this Article shall be known as an industrial bank, and may use the word...
• N.C. Gen. Stat. § 53-139.   Capital stock
  The amount of capital stock with which any industrial bank shall commence business shall not be less than fifty percent (50%) of that which...
• N.C. Gen. Stat. § 53-140.   Sales of capital stock; accounting; fees
  The capital stock sold by any industrial bank in process of organization, or for an increase of the capital stock, shall be accounted for...
• N.C. Gen. Stat. § 53-141.   Powers
  Industrial banks shall have perpetual duration and succession in their corporate name unless a limited period of duration is stated in their certificate of...
• N.C. Gen. Stat. § 53-142.   Restriction on powers
  No industrial bank shall deposit any of its funds in any banking corporation unless such corporation has been designated as such depositary by a...
• N.C. Gen. Stat. § 53-143.   Investments; securities; loans; limitations
  The provisions of G.S. 53-46, 53-48 and 53-49, with reference to the limitations of investments in securities, limitations of loans and suspensions of investment...
• N.C. Gen. Stat. § 53-144.   Supervision and examination
  Every industrial bank now or hereafter transacting the business of an industrial bank as defined by this Article, whether as a separate business or...
• N.C. Gen. Stat. § 53-145.   Sections of general law applicable
  Sections 53-1, 53-3, 53-4, 53-5, 53-6, 53-7, 53-8, 53-9, 53-10, 53-11, 53-12, 53-13, 53-18, 53-20, 53-22, 53-23, 53-42, 53-42.1, 53-47, 53-50, 53-51, 53-54, 53-63,...

Article 12 - Joint Deposits.

• N.C. Gen. Stat. § 53-146.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-146.1.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-146.2.   Repealed by Session Laws 2011-236, s. 1, effective October 1, 2011
• N.C. Gen. Stat. § 53-146.2A.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-146.3.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-147.   Repealed by Session Laws 1943, c. 543

Article 13 - Conservation of Bank Assets and Issuance of Preferred Stock.

• N.C. Gen. Stat. § 53-148.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-149.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-150.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-151.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-152.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-153.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-154.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-155.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-156.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-157.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-158.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-158.1.   Repealed by Session Laws 2012-56, s. 1, effective October 1, 2012
• N.C. Gen. Stat. § 53-158.2.   Reserved for future codification purposes
• N.C. Gen. Stat. § 53-158.3.   Reserved for future codification purposes
• N.C. Gen. Stat. § 53-158.4.   Reserved for future codification purposes
• N.C. Gen. Stat. § 53-158.5.   Reserved for future codification purposes
• N.C. Gen. Stat. § 53-158.6.   Reserved for future codification purposes
• N.C. Gen. Stat. § 53-158.7.   Reserved for future codification purposes
• N.C. Gen. Stat. § 53-158.8.   Reserved for future codification purposes
• N.C. Gen. Stat. § 53-158.9.   Reserved for future codification purposes

Article 14 - Trust Institutions Acting in a Fiduciary Capacity.

• N.C. Gen. Stat. § 53-158.10.   Definitions
  For purposes of this Article, the following definitions apply: (1) "Depository institution" has the same meaning as set forth in the Federal Deposit Insurance...
• N.C. Gen. Stat. § 53-159.   Trust institution may act as fiduciary
  Any trust institution licensed by the Commissioner of Banks, where such powers or privileges are granted it in its charter, may be guardian, trustee,...
• N.C. Gen. Stat. § 53-159.1.   Power of fiduciary or custodian to deposit securities in a clearing corporation
  Notwithstanding any other provision of law, any fiduciary holding securities in its fiduciary capacity, any trust institution holding securities in a fiduciary capacity or...
• N.C. Gen. Stat. § 53-160.   License to do business
  Before any such trust institution is authorized to act in any fiduciary capacity without bond, it must be licensed by the Commissioner of Banks...
• N.C. Gen. Stat. § 53-161.   Examination in connection with license as to solvency
  The Commissioner of Banks may, at the expense of the trust institution, make or cause to be made an examination of any trust institution,...
• N.C. Gen. Stat. § 53-162.   Repealed by Session Laws 2011-339, s. 7, effective October 1, 2011
• N.C. Gen. Stat. § 53-163.   Clerk of superior court notified of license and revocation
  The Commissioner of Banks, upon granting license to any trust institution, shall immediately notify the clerk of the superior court of each county in...
• N.C. Gen. Stat. § 53-163.1.   Funds held by a trust institution awaiting investment or distribution
  (a) Funds held in a fiduciary capacity by a trust institution awaiting investment or distribution shall not be held uninvested or undistributed any longer...
• N.C. Gen. Stat. § 53-163.2.   Investments in securities by trust institutions
  Unless the governing instrument, court order, or a statute specifically directs otherwise, a trust institution serving as trustee, guardian, agent, or in any other...
• N.C. Gen. Stat. § 53-163.3.   Fiduciary funds awaiting investment
  A bank that is a trust institution may maintain separate departments and deposit in its commercial department to the credit of its trust department...
• N.C. Gen. Stat. § 53-163.4.   Reserved for future codification purposes
• N.C. Gen. Stat. § 53-163.5.   Establishment of common trust funds
  (a) Any trust institution duly authorized to act as a fiduciary in this State may establish and maintain one or more common trust funds...
• N.C. Gen. Stat. § 53-163.6.   Court accountings
  Unless ordered by a court of competent jurisdiction the trust institution operating such common trust fund or funds shall not be required to render...
• N.C. Gen. Stat. § 53-163.7.   Supervision by State Banking Commission
  All common trust funds established under the provisions of this Part shall be subject to the rules and regulations of the State Banking Commission....
• N.C. Gen. Stat. § 53-163.8.   Uniformity of interpretation
  This Part shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states which enact...
• N.C. Gen. Stat. § 53-163.9.   Short title
  This Part may be cited as the Uniform Common Trust Fund Act. (1939, c. 200, s. 5; 1977, c. 502, s. 2; 2005-192, s.

Article 15 - North Carolina Consumer Finance Act.

• N.C. Gen. Stat. § 53-164.   Title
  This Article shall be known and may be cited as the North Carolina Consumer Finance Act. (1961, c. 1053, s. 1.)
• N.C. Gen. Stat. § 53-165.   Definitions
  (a) "Amount of the loan" shall mean the aggregate of the cash advance and the charges authorized by G.S. 53-173 and G.S. 53-176. (b)...
• N.C. Gen. Stat. § 53-166.   Scope of Article; evasions; penalties; loans in violation of Article void
  (a) Scope. - No person shall engage in the business of lending in amounts of fifteen thousand dollars ($15,000) or less and contract for,...
• N.C. Gen. Stat. § 53-167.   Expenses of supervision
  For the purpose of defraying necessary expenses of the Office of Commissioner of Banks for supervision, each licensee shall pay to the Commissioner an...
• N.C. Gen. Stat. § 53-168.   License required; showing of convenience, advantage and financial responsibility; investigation of applicants; hearings; existing businesses; contents of license; transfer; posting
  (a) Necessity for License; Prerequisites to Issuance. - No person shall engage in or offer to engage in the business regulated by this Article...
• N.C. Gen. Stat. § 53-169.   Application for license
  The application for license shall be made on a form prepared and furnished by the Commissioner of Banks and shall state: (1) The fact...
• N.C. Gen. Stat. § 53-170.   Locations; change of ownership or management
  (a) Business Location. - A licensee may conduct and carry on his business only at such location or locations as may be approved by...
• N.C. Gen. Stat. § 53-171.   Revocation, suspension or surrender of license
  (a) If the Commissioner shall find, after due notice and hearing, or opportunity for hearing, that any such licensee, or an officer, agent, employee,...
• N.C. Gen. Stat. § 53-172.   Conduct of other business in same office
  (a) No licensee shall conduct the business of making loans under this Article within any office, suite, room, or place of business in which...
• N.C. Gen. Stat. § 53-173.   Computation of interest; application of payments; limitation on interest after judgment; limitation on interest after maturity of the loan
  (a), (a1) Repealed by Session Laws 2013-162, s. 3, effective July 1, 2013. (b) Computation of Interest. - Interest on loans made pursuant to...
• N.C. Gen. Stat. § 53-173.1.   Repealed by Session Laws 1989, c. 17, s. 4
• N.C. Gen. Stat. § 53-173.2.   Repealed by Session Laws 1975, c. 110, s. 2
• N.C. Gen. Stat. § 53-174.   Repealed by Session Laws 1989, c. 17, s. 4
• N.C. Gen. Stat. § 53-175.   Fee for returned checks
  A licensee may collect the fee for returned checks to the extent permitted by G.S. 25-3-506. This section shall apply to any loan made...
• N.C. Gen. Stat. § 53-176.   Rates, maturities and amounts
  (a) A licensee may make installment loans in aggregate amounts not exceeding fifteen thousand dollars ($15,000) and which shall not be repayable in fewer...
• N.C. Gen. Stat. § 53-176.1.   Repealed by Session Laws 1989, c. 17, s. 4
• N.C. Gen. Stat. § 53-177.   Fees
  (a) Recording Fees. - The licensee may collect from the borrower the amount of any fees necessary to file or record its security interest...
• N.C. Gen. Stat. § 53-178.   No further charges; no splitting contracts; certain contracts void
  No further or other charges or insurance commissions shall be directly or indirectly contracted for or received by any licensee except those specifically authorized...
• N.C. Gen. Stat. § 53-179.   Multiple-office loan limitations
  A licensee shall not grant a loan in one office to any borrower who already has a loan in another office operated by the...
• N.C. Gen. Stat. § 53-180.   Limitations and prohibitions on practices and agreements
  (a) Time and Payment Limitation. - Every loan contract shall provide for repayment of the amount loaned in substantially equal installments, either of principal...
• N.C. Gen. Stat. § 53-180.1.   Military service members limitation
  (a) Definition. - For purposes of this section, the term "military service member" means a member of the Armed Forces who is either (i)...
• N.C. Gen. Stat. § 53-181.   Statements and information to be furnished to borrowers; power of attorney or confession of judgment prohibited
  (a) Contents of Statement Furnished to Borrower. - At the time a loan is made, the licensee shall deliver to the borrower, or if...
• N.C. Gen. Stat. § 53-182.   Payment of loans; receipts
  (a) After each payment made on account of any loan, the licensee shall give to the person making such payment a signed, dated receipt...
• N.C. Gen. Stat. § 53-183.   Advertising, broadcasting, etc., false or misleading statements
  No licensee subject to this Article shall advertise, display, distribute, telecast, or broadcast or cause or permit to be advertised, displayed, distributed, telecasted, or...
• N.C. Gen. Stat. § 53-184.   Securing of information; records and reports; allocations of expense
  (a) Each licensee shall maintain all books and records relating to loans made under this Article required by the Commissioner of Banks to be...
• N.C. Gen. Stat. § 53-185.   Rules and regulations by Banking Commission and Commissioner
  The State Banking Commission is hereby authorized, empowered and directed to make all rules and regulations deemed by the Commission to be necessary in...
• N.C. Gen. Stat. § 53-186.   Commissioner to issue subpoenas, conduct hearings, give publicity to investigations, etc
  The Commissioner of Banks shall have the power and duty to issue subpoenas including subpoenas duces tecum, and compel attendance of witnesses, administer oaths,...
• N.C. Gen. Stat. § 53-187.   Injunctive powers; receivers
  Whenever the Commissioner has reasonable cause to believe that any person is violating or is threatening to violate any provision of this Article, he...
• N.C. Gen. Stat. § 53-188.   Review of regulations, order or act of Commission or Commissioner
  The Commission may review any rule, regulation, order or act of the Commissioner done pursuant to or with respect to the provisions of this...
• N.C. Gen. Stat. § 53-189.   Insurance
  (a) Credit life, credit accident and health, credit unemployment, and credit property insurance may be written in accordance with the provisions of Article 57...
• N.C. Gen. Stat. § 53-190.   Loans made elsewhere
  (a) No loan contract made outside this State in the amount or of the value of ten thousand dollars ($10,000) or less, for which...
• N.C. Gen. Stat. § 53-191.   Businesses exempted
  Nothing in this Article shall be construed to apply to any person, firm or corporation doing business under the authority of any law of...

Article 16 - Money Transmitters Act.

• N.C. Gen. Stat. § 53-192 through 53-208.   Repealed by Session Laws 2001-443, s. 1, effective November 1, 2001, and applicable to contracts entered into on or after that date

Article 16A - Money Transmitters Act.

• N.C. Gen. Stat. § 53-208.1.   Citation of Article
  This Article shall be known and cited as the "Money Transmitters Act". (2001-443, s. 2.)
• N.C. Gen. Stat. § 53-208.2.   Definitions
  (a) Unless otherwise provided in this Article, or when the context clearly indicates that a different meaning is intended, the following definitions apply in...
• N.C. Gen. Stat. § 53-208.3.   License required
  (a) On or after October 1, 2001, no person except those exempt pursuant to G.S. 53-208.4 shall engage in the business of money transmission...
• N.C. Gen. Stat. § 53-208.4.   Exemptions
  (a) This Article shall not apply to any of the following: (1) The United States or any department, agency, or instrumentality thereof. (2) The...
• N.C. Gen. Stat. § 53-208.5.   License qualifications
  (a) Each licensee shall have at all times a net worth of not less than one hundred thousand dollars ($100,000) calculated in accordance with...
• N.C. Gen. Stat. § 53-208.6.   Permissible investments and statutory trust
  (a) Each licensee under this Article shall possess at all times unencumbered permissible investments having an aggregate market value, calculated in accordance with generally...
• N.C. Gen. Stat. § 53-208.7.   License application
  (a) Each application for a license under this Article shall be made in writing, under oath, and in a form prescribed by the Commissioner....
• N.C. Gen. Stat. § 53-208.8.   Surety bond
  (a) Each application shall be accompanied by a surety bond acceptable to the Commissioner in the amount of one hundred fifty thousand dollars ($150,000)....
• N.C. Gen. Stat. § 53-208.9.   Fees
  (a) Investigation and License Fees. - Each application for a license shall be accompanied by a nonrefundable investigation fee of five hundred dollars ($500.00),...
• N.C. Gen. Stat. § 53-208.10.   Issuance of license
  (a) Upon the filing of a complete application, the Commissioner shall investigate the financial condition and responsibility, financial and business experience, and the character...
• N.C. Gen. Stat. § 53-208.11.   Renewal of license and annual report
  (a) The annual license fee shall be accompanied by a report, in a form prescribed by the Commissioner, to be filed by the licensee...
• N.C. Gen. Stat. § 53-208.12.   Quarterly reports
  A licensee shall file for each calendar quarter, no later than 60 days after the quarter has ended, a report which contains the total...
• N.C. Gen. Stat. § 53-208.13.   Extraordinary reporting requirements
  (a) Within 15 days of the occurrence of any one of the events listed below, a licensee shall file a written report with the...
• N.C. Gen. Stat. § 53-208.14.   Changes in control of a license
  Within 15 days of a change or acquisition of control of a licensee, the licensee shall provide notice of the event to the Commissioner...
• N.C. Gen. Stat. § 53-208.15.   Examinations
  (a) The Commissioner may conduct an annual on-site examination of a licensee. Should the Commissioner conclude that an on-site examination of a licensee is...
• N.C. Gen. Stat. § 53-208.16.   Maintenance of records and certificate of authority
  (a) Each licensee shall make, keep, and preserve the following books, accounts, and other records for a period of three years: (1) A record...
• N.C. Gen. Stat. § 53-208.17.   Confidentiality of data submitted to the Commissioner
  (a) Notwithstanding any other provision of law, all information or reports obtained by the Commissioner from an applicant, licensee, or authorized delegate, whether obtained...
• N.C. Gen. Stat. § 53-208.18.   Suspension or revocation of licenses
  After notice and hearing, the Commissioner may suspend or revoke a license issued under this Article if the Commissioner finds any of the following:...
• N.C. Gen. Stat. § 53-208.19.   Authorized delegate contracts
  Licensees desiring to conduct licensed activities through authorized delegates in this State shall authorize each delegate to operate pursuant to an express written contract,...
• N.C. Gen. Stat. § 53-208.20.   Authorized delegate conduct
  (a) An authorized delegate shall not make any fraudulent or false statement or misrepresentation to a licensee or to the Commissioner. (b) All money...
• N.C. Gen. Stat. § 53-208.21.   Revocation or suspension of authorized delegates
  (a) If, after notice and a hearing, the Commissioner finds that any authorized delegate of a licensee or any director, officer, employee, or controlling...
• N.C. Gen. Stat. § 53-208.22.   Licensee liability
  A licensee's responsibility to any person for a money transmission conducted on that person's behalf by the licensee or the licensee's authorized delegate shall...
• N.C. Gen. Stat. § 53-208.22A.   Disclosures of transmissions
  (a) At the time of a monetary transmission transaction to a location outside of the United States, the licensee shall provide a receipt to...
• N.C. Gen. Stat. § 53-208.23.   Hearings; procedures
  Except as provided by G.S 53-208.10(c), hearings conducted pursuant to this Article shall proceed in accordance with Article 3A of Chapter 150B of the...
• N.C. Gen. Stat. § 53-208.24.   Civil penalties
  (a) If, after notice and hearing, the Commissioner finds that a person has intentionally violated this Article or a rule adopted under this Article,...
• N.C. Gen. Stat. § 53-208.25.   Enforcement
  (a) If it appears to the Commissioner that any person has committed or is about to commit a violation of any provision of this...
• N.C. Gen. Stat. § 53-208.26.   Criminal penalties
  (a) Any person who knowingly and willfully violates any provision of this Article for which a penalty is not specifically provided is guilty of...
• N.C. Gen. Stat. § 53-208.27.   Rules
  (a) The Banking Commission may adopt rules necessary to implement this Article. (b) The Banking Commission may review any rule, regulation, order, or act...
• N.C. Gen. Stat. § 53-208.28.   Severability
  Should any provision, sentence, clause, section, or part of this Article for any reason be held unconstitutional, illegal, or invalid, such unconstitutionality, illegality, or...
• N.C. Gen. Stat. § 53-208.29.   Appointment of Secretary of State as agent for service of process
  (a) Any licensee, authorized delegate, or other person who knowingly engages in business activities that are regulated under this Article, with or without filing...
• N.C. Gen. Stat. § 53-208.30.   Transition
  Any person who holds in good standing a money transmitters license issued by the Commissioner of Banks on November 1, 2001 may continue to...

Article 17 - North Carolina Reciprocal Interstate Banking Act.

• N.C. Gen. Stat. § 53-209.   Title
  This Article shall be known and may be cited as the North Carolina Reciprocal Interstate Banking Act. (1983 (Reg. Sess., 1984), c. 1113, s....
• N.C. Gen. Stat. § 53-210.   Definitions
  Notwithstanding any other section of this Chapter, for the purposes of this Article: (1) "Acquire" means: a. The merger or consolidation of one bank...
• N.C. Gen. Stat. § 53-211.   Acquisitions by out-of-state bank holding companies
  (a) An out-of-state bank holding company that does not have a North Carolina bank subsidiary, other than a North Carolina bank subsidiary that was...
• N.C. Gen. Stat. § 53-212.   Repealed by Session Laws 1993, c. 175, s. 10, as amended by Session Laws 1993 (Regular Session, 1994), c. 599, s. 1
• N.C. Gen. Stat. § 53-212.1.   Bank agent for deposit institution affiliate
  A bank may act as the agent of any depository institution affiliate in receiving deposits, renewing time deposits, closing loans, servicing loans, and receiving...
• N.C. Gen. Stat. § 53-213.   Prohibitions
  (a) Except as expressly permitted by this Article or by federal law, no out-of-state bank holding company shall acquire a North Carolina bank holding...
• N.C. Gen. Stat. § 53-214.   Applicable laws, rules and regulations
  (a) Any North Carolina bank that is controlled by a bank holding company that is not a North Carolina bank holding company shall be...
• N.C. Gen. Stat. § 53-215.   Appeal of Commissioner's decision
  Any aggrieved party in a proceeding under G.S. 53-211, 53C-10-102, or 53C-10-201 may, within 20 days after final decision of the Commissioner, appeal in...
• N.C. Gen. Stat. § 53-216.   Periodic reports; interstate agreements
  The Commissioner may from time to time require reports under oath in such scope and detail as he may reasonably determine of each out-of-state...
• N.C. Gen. Stat. § 53-217.   Enforcement
  The Commissioner shall have the power to enforce the provisions of this Article through an action in any court of this State or any...
• N.C. Gen. Stat. § 53-218.   Nonseverability
  It is the purpose of this Article 17 to facilitate orderly development within North Carolina of banking organizations that have banking offices in more...

Article 17A - Interstate Branch Banking.

• N.C. Gen. Stat. § 53-219 through 53-224.8.   Repealed by Session Laws 1995, c. 322, s. 1

Article 17B - Interstate Branch Banking.

• N.C. Gen. Stat. § 53-224.9.   Definitions
  The following definitions apply in this Article: (1) "Acquisition of a branch" means the acquisition of a branch located in a host state without...
• N.C. Gen. Stat. § 53-224.10.   Purpose
  It is the express intent of this Part to permit interstate branching under sections 102 and 103 of the Riegle-Neal Interstate Banking and Branching...
• N.C. Gen. Stat. § 53-224.11.   Interstate branching by North Carolina State banks
  (a) With the prior approval of the Commissioner, any North Carolina State bank may establish and maintain a de novo branch or acquire a...
• N.C. Gen. Stat. § 53-224.12.   Interstate branching by de novo entry
  An out-of-state bank that does not have a branch in North Carolina and that meets the requirements of this Article may establish and maintain...
• N.C. Gen. Stat. § 53-224.13.   Interstate branching through the acquisition of a branch
  An out-of-state bank that does not have a branch in North Carolina and that meets the requirements of this Article may establish and maintain...
• N.C. Gen. Stat. § 53-224.14.   Requirement of notice and other conditions
  (a) An out-of-state bank desiring to establish and maintain a de novo branch or to acquire a branch in this State shall provide written...
• N.C. Gen. Stat. § 53-224.15.   Conditions for approval
  In the case of notice under G.S. 53-224.14 by an out-of-state state bank, the notice shall be subject to approval by the Commissioner, which...
• N.C. Gen. Stat. § 53-224.16.   Powers
  (a) An out-of-state state bank which establishes and maintains one or more branches in North Carolina under this Article may conduct any activities at...
• N.C. Gen. Stat. § 53-224.17.   Purpose
  It is the express intent of this Part to permit interstate branching by merger under section 102 of the Riegle-Neal Interstate Banking and Branching...
• N.C. Gen. Stat. § 53-224.18.   Authority of State banks to establish interstate branches by merger
  With the prior approval of the Commissioner, a North Carolina State bank may establish, maintain, and operate one or more branches in a state...
• N.C. Gen. Stat. § 53-224.19.   Interstate merger transactions and branching permitted
  One or more North Carolina banks may enter into an interstate merger transaction with one or more out-of-state banks under this Article, and an...
• N.C. Gen. Stat. § 53-224.20.   Notice and filing requirements
  Any out-of-state bank that will be the resulting bank pursuant to an interstate merger transaction involving a North Carolina bank shall notify the Commissioner...
• N.C. Gen. Stat. § 53-224.21.   Conditions for interstate merger prior to June 1, 1997
  An interstate merger transaction prior to June 1, 1997, involving a North Carolina bank shall not be consummated, and any out-of-state bank resulting from...
• N.C. Gen. Stat. § 53-224.22.   Powers
  (a) An out-of-state state bank which establishes and maintains one or more branches in North Carolina under this Article may conduct any activities at...
• N.C. Gen. Stat. § 53-224.23.   Applicability of supervisory authority
  The supervisory powers and other provisions set forth in G.S. 53-224.24 through G.S. 53-224.31 shall apply to Parts 2 and 3 of this Article....
• N.C. Gen. Stat. § 53-224.24.   Examinations; periodic reports; cooperative agreements; assessment of fees
  (a) The Commissioner may make such examinations of any branch of an out-of-state state bank established under this Article and located in this State...
• N.C. Gen. Stat. § 53-224.25.   Enforcement
  If the Commissioner determines that a branch maintained by an out-of-state state bank in this State is being operated in violation of any provision...
• N.C. Gen. Stat. § 53-224.26.   Rules
  The Commissioner, subject to review and approval of the North Carolina State Banking Commission, may adopt rules needed to implement this Article. Chapter 150B...
• N.C. Gen. Stat. § 53-224.27.   Additional branches
  An out-of-state bank that has a branch in North Carolina may establish and acquire additional branches in this State to the same extent as...
• N.C. Gen. Stat. § 53-224.28.   Notice of subsequent merger or other change in control
  An out-of-state bank that maintains a branch in this State established pursuant to this Article shall give 30 days' prior written notice to the...
• N.C. Gen. Stat. § 53-224.29.   Branch closings
  An out-of-state state bank that is subject to an order or written agreement revoking its authority to establish or maintain a branch in North...
• N.C. Gen. Stat. § 53-224.30.   Appeal of Commissioner's decision
  Any aggrieved party in a proceeding under this Article may, within 20 days after final decision of the Commissioner, appeal, in writing, such decision...
• N.C. Gen. Stat. § 53-224.31.   Severability
  If any provision of this Article or the application of such provision is found invalid as to any bank, branch, bank holding company, person,...

Article 18 - Bank Holding Company Act of 1984.

• N.C. Gen. Stat. § 53-225.   Title and scope
  (a) This Article shall be known and may be cited as the North Carolina Bank Holding Company Act of 1984. (b), (c) Repealed by...
• N.C. Gen. Stat. § 53-226.   Definitions
  For the purposes of this Article: (1) "Bank" means any insured bank as the term is defined in Section 3(h) of the Federal Deposit...
• N.C. Gen. Stat. § 53-227.   Registration of bank holding companies
  Every bank holding company, not later than July 1, 1985, or within 180 days after becoming a bank holding company controlling a North Carolina...
• N.C. Gen. Stat. § 53-227.1.   Criteria for certain bank holding company acquisitions
  (a) In addition to the criteria set forth in G.S. 53-211(a) and (b) to be used by the Commissioner in reviewing applications for acquisitions...
• N.C. Gen. Stat. § 53-228.   Cease and desist
  Upon a finding that any action of a bank holding company or nonbank subsidiary subject to this Article may be in violation of any...
• N.C. Gen. Stat. § 53-229.   Repealed by Session Laws 1995, c. 129, s. 31
• N.C. Gen. Stat. § 53-230.   Rules
  The Banking Commission may adopt such reasonable rules as may be necessary to effectuate the purposes of this Article. (1983 (Reg. Sess., 1984), c....
• N.C. Gen. Stat. § 53-231.   Appeal of Commissioner's decision
  Any aggrieved party in a proceeding under this Article may, within 20 days after final decision of the Commissioner, appeal such decision in writing...
• N.C. Gen. Stat. § 53-232.   Fees
  Each bank holding company subject to this act shall pay the following fees: (1) An initial registration fee of $1,000. (2) An annual registration...

Article 18A - North Carolina International Banking Act.

• N.C. Gen. Stat. § 53-232.1.   Title and scope
  (a) This act shall be known and cited as the North Carolina International Banking Act. (b) This Article is intended to set forth the...
• N.C. Gen. Stat. § 53-232.2.   Definitions
  (a) The following definitions apply in this Article: (1) Commissioner. - The North Carolina Commissioner of Banks. (2) Federal international bank institution. - A...
• N.C. Gen. Stat. § 53-232.3.   Authority to establish and operate federal international bank institutions, international bank branches, international bank agencies, and international representative offices
  (a) An international banking corporation with a home state other than North Carolina may establish and operate, directly or indirectly, a federal international bank...
• N.C. Gen. Stat. § 53-232.4.   Application of this Chapter
  (a) International banking corporations, other than federal international bank institutions, are subject to Articles 1 through 14 and Articles 17 and 18 of this...
• N.C. Gen. Stat. § 53-232.5.   Application of the North Carolina Business Corporation Act
  Notwithstanding the definition of the term "foreign corporation" in G.S. 55-1-40(10), Article 15 of Chapter 55, relating to foreign corporations, where it is not...
• N.C. Gen. Stat. § 53-232.6.   Requirements for carrying on banking business
  (a) No international banking corporation, other than a federal international bank institution, shall transact a banking business or maintain in this State any office...
• N.C. Gen. Stat. § 53-232.7.   Actions against international banking corporations
  (a) A resident of this State may maintain an action against an international banking corporation doing business in this State for any cause of...
• N.C. Gen. Stat. § 53-232.8.   Application for license
  (a) Every international banking corporation, before being licensed by the Commissioner to transact a banking business in this State as an international bank branch...
• N.C. Gen. Stat. § 53-232.9.   Effect, renewal, and revocation of licenses; permissible activities
  (a) When the Commissioner has issued a license to an international banking corporation, it may engage in the business authorized by this Article at,...
• N.C. Gen. Stat. § 53-232.10.   Securities, etc., to be held in this State
  (a) An international banking corporation licensed under this Article shall hold, at its office in this State, currency, bonds, notes, debentures, drafts, bills of...
• N.C. Gen. Stat. § 53-232.11.   Financial certification; restrictions on investments, loans, and acceptances
  (a) Before opening an office in this State, and annually thereafter so long as a bank office is maintained in this State, an international...
• N.C. Gen. Stat. § 53-232.12.   Reports
  (a) An international banking corporation licensed under this Article shall, at the times and in the form prescribed by the Commissioner, make written reports...
• N.C. Gen. Stat. § 53-232.13.   Dissolution
  (a) When an international banking corporation licensed to maintain an international bank branch or an international bank agency in this State is dissolved or...
• N.C. Gen. Stat. § 53-232.14.   International representative offices
  (a) An international banking corporation that does not transact a banking business or any part of a banking business in or through an office...
• N.C. Gen. Stat. § 53-232.15.   Rules
  The Banking Commission may adopt rules necessary to implement this Article. (1991, c. 679, s. 1.)
• N.C. Gen. Stat. § 53-232.16.   Cease and desist
  Upon a finding that any action of an international banking corporation or its international banking agency, international banking branch, or international representative office subject...
• N.C. Gen. Stat. § 53-232.17.   Appeal of Commissioner's decision
  Any aggrieved party in a proceeding under this Article may, within 20 days after final decision of the Commissioner, appeal such decision in writing...

Article 19 - Registration of Mortgage Bankers and Brokers: Repealed.

• N.C. Gen. Stat. § 53-233 through 53-243.   Repealed by Session Laws 2001-393, s. 1, effective July 1, 2002

Article 19A - Mortgage Lending Act.

• N.C. Gen. Stat. § 53-243.01.   Repealed by Session Laws 2009-374, s. 1, effective July 31, 2009, and applicable to all applications for licensure as a mortgage loan originator, mortgage lender, mortgage broker, or mortgage servicer filed on or after that date
• N.C. Gen. Stat. § 53-243.02.   Repealed by Session Laws 2009-374, s. 1, effective July 31, 2009, and applicable to all applications for licensure as a mortgage loan originator, mortgage lender, mortgage broker, or mortgage servicer filed on or after that date
• N.C. Gen. Stat. § 53-243.03.   Repealed by Session Laws 2009-374, s. 1, effective July 31, 2009, and applicable to all applications for licensure as a mortgage loan originator, mortgage lender, mortgage broker, or mortgage servicer filed on or after that date
• N.C. Gen. Stat. § 53-243.04.   Repealed by Session Laws 2009-374, s. 1, effective July 31, 2009, and applicable to all applications for licensure as a mortgage loan originator, mortgage lender, mortgage broker, or mortgage servicer filed on or after that date
• N.C. Gen. Stat. § 53-243.05.   Repealed by Session Laws 2009-374, s. 1, effective July 31, 2009, and applicable to all applications for licensure as a mortgage loan originator, mortgage lender, mortgage broker, or mortgage servicer filed on or after that date
• N.C. Gen. Stat. § 53-243.05A.   Repealed by Session Laws 2009-374, s. 1, effective July 31, 2009, and applicable to all applications for licensure as a mortgage loan originator, mortgage lender, mortgage broker, or mortgage servicer filed on or after that date
• N.C. Gen. Stat. § 53-243.06.   Repealed by Session Laws 2009-374, s. 1, effective July 31, 2009, and applicable to all applications for licensure as a mortgage loan originator, mortgage lender, mortgage broker, or mortgage servicer filed on or after that date
• N.C. Gen. Stat. § 53-243.07.   Repealed by Session Laws 2009-374, s. 1, effective July 31, 2009, and applicable to all applications for licensure as a mortgage loan originator, mortgage lender, mortgage broker, or mortgage servicer filed on or after that date
• N.C. Gen. Stat. § 53-243.08.   Repealed by Session Laws 2009-374, s. 1, effective July 31, 2009, and applicable to all applications for licensure as a mortgage loan originator, mortgage lender, mortgage broker, or mortgage servicer filed on or after that date
• N.C. Gen. Stat. § 53-243.09.   Repealed by Session Laws 2009-374, s. 1, effective July 31, 2009, and applicable to all applications for licensure as a mortgage loan originator, mortgage lender, mortgage broker, or mortgage servicer filed on or after that date
• N.C. Gen. Stat. § 53-243.10.   Repealed by Session Laws 2009-374, s. 1, effective July 31, 2009, and applicable to all applications for licensure as a mortgage loan originator, mortgage lender, mortgage broker, or mortgage servicer filed on or after that date
• N.C. Gen. Stat. § 53-243.11.   Repealed by Session Laws 2009-374, s. 1, effective July 31, 2009, and applicable to all applications for licensure as a mortgage loan originator, mortgage lender, mortgage broker, or mortgage servicer filed on or after that date
• N.C. Gen. Stat. § 53-243.12.   Repealed by Session Laws 2009-374, s. 1, effective July 31, 2009, and applicable to all applications for licensure as a mortgage loan originator, mortgage lender, mortgage broker, or mortgage servicer filed on or after that date
• N.C. Gen. Stat. § 53-243.13.   Repealed by Session Laws 2009-374, s. 1, effective July 31, 2009, and applicable to all applications for licensure as a mortgage loan originator, mortgage lender, mortgage broker, or mortgage servicer filed on or after that date
• N.C. Gen. Stat. § 53-243.14.   Repealed by Session Laws 2009-374, s. 1, effective July 31, 2009, and applicable to all applications for licensure as a mortgage loan originator, mortgage lender, mortgage broker, or mortgage servicer filed on or after that date
• N.C. Gen. Stat. § 53-243.15.   Repealed by Session Laws 2009-374, s. 1, effective July 31, 2009, and applicable to all applications for licensure as a mortgage loan originator, mortgage lender, mortgage broker, or mortgage servicer filed on or after that date
• N.C. Gen. Stat. § 53-243.16.   Repealed by Session Laws 2009-374, s. 1, effective July 31, 2009, and applicable to all applications for licensure as a mortgage loan originator, mortgage lender, mortgage broker, or mortgage servicer filed on or after that date
• N.C. Gen. Stat. § 53-243.17.   Repealed by Session Laws 2009-374, s. 1, effective July 31, 2009, and applicable to all applications for licensure as a mortgage loan originator, mortgage lender, mortgage broker, or mortgage servicer filed on or after that date
• N.C. Gen. Stat. § 53-243.18.   Repealed by Session Laws 2009-374, s. 1, effective July 31, 2009, and applicable to all applications for licensure as a mortgage loan originator, mortgage lender, mortgage broker, or mortgage servicer filed on or after that date
• N.C. Gen. Stat. § 53-244.   Reserved for future codification purposes

Article 19B - The Secure and Fair Enforcement Mortgage Licensing Act.

• N.C. Gen. Stat. § 53-244.010.   Title
  This act may be cited as the "North Carolina Secure and Fair Enforcement (S.A.F.E.) Mortgage Licensing Act." (2009-374, s. 2.)
• N.C. Gen. Stat. § 53-244.020.   Purpose and construction
  (a) Purpose. - A primary purpose of this Article is to protect consumers seeking mortgage loans and to ensure that the mortgage lending industry...
• N.C. Gen. Stat. § 53-244.030.   Definitions
  For purposes of the Article, the following definitions apply: (1) "Affiliate" means any company that controls, is controlled by, or is under common control...
• N.C. Gen. Stat. § 53-244.040.   License and registration requirements
  (a) Except as provided in subsection (d) of this section, no person may engage in the mortgage business or act as a mortgage loan...
• N.C. Gen. Stat. § 53-244.050.   License and registration application; claim of exemption
  (a) Applicants for a license shall apply through the Nationwide Mortgage Licensing System and Registry on a form acceptable to the Commissioner, including the...
• N.C. Gen. Stat. § 53-244.060.   Issuance of license
  If an applicant satisfies the requirements of G.S. 53-244.050, the Commissioner shall issue a mortgage lender, mortgage broker, mortgage servicer, mortgage loan originator, or...
• N.C. Gen. Stat. § 53-244.070.   Educational requirements for mortgage loan originators
  (a) In order to be eligible to apply for a mortgage loan originator license, an individual must complete at least 24 hours of prelicensing...
• N.C. Gen. Stat. § 53-244.080.   Testing requirements for mortgage loan originators
  (a) An individual must pass a qualified written test, as defined by subsection (b) of this section, developed by the Nationwide Mortgage Licensing System...
• N.C. Gen. Stat. § 53-244.090.   License application fees
  (a) Every applicant for initial licensure shall pay a nonrefundable filing fee of one thousand two hundred fifty dollars ($1,250) for licensure as a...
• N.C. Gen. Stat. § 53-244.100.   Active license requirements and assignability
  (a) It is unlawful for any person to engage in the mortgage business without first obtaining a license as a mortgage loan originator, transitional...
• N.C. Gen. Stat. § 53-244.100A.   Assessments
  (a) For the purpose of meeting the cost of regulation under this Article, each mortgage lender, mortgage broker, and mortgage servicer licensed under this...
• N.C. Gen. Stat. § 53-244.101.   License renewal
  (a) All licenses issued by the Commissioner under the provisions of this Article shall expire annually on the 31st day of December following issuance...
• N.C. Gen. Stat. § 53-244.102.   Continuing education for mortgage loan originators
  (a) A licensed mortgage loan originator shall annually complete at least eight hours of continuing education approved in accordance with subsection (b) of this...
• N.C. Gen. Stat. § 53-244.103.   Surety bond requirements
  (a) Each mortgage loan originator or transitional mortgage loan originator shall be covered by a surety bond through employment with a licensee in accordance...
• N.C. Gen. Stat. § 53-244.104.   Minimum net worth requirements
  (a) A minimum net worth shall be continuously maintained for licensees in accordance with this section. In the event that the mortgage loan originator...
• N.C. Gen. Stat. § 53-244.105.   Records, addresses, escrow funds, or trust accounts
  (a) Every licensee shall make and keep the accounts, correspondence, memoranda, papers, books, and other records as prescribed in rules adopted by the Commissioner....
• N.C. Gen. Stat. § 53-244.106.   Display of license
  Each mortgage broker or mortgage lender licensed under this Article shall display, in plain public view, the certificate of licensure issued by the Commissioner...
• N.C. Gen. Stat. § 53-244.107.   Unique identifier shown
  The unique identifier of any mortgage loan originator, transitional mortgage loan originator, or other person engaged in the mortgage business as defined in G.S....
• N.C. Gen. Stat. § 53-244.108.   Reports
  Each mortgage lender, mortgage broker, or mortgage servicer licensee shall submit to the Commissioner and to the Nationwide Mortgage Licensing System and Registry reports...
• N.C. Gen. Stat. § 53-244.109.   Mortgage broker duties
  Any mortgage broker engaged in the mortgage business as defined by G.S. 53-244.030(11)a., in addition to duties imposed by other statutes or at common...
• N.C. Gen. Stat. § 53-244.110.   Mortgage servicer duties
  Any mortgage servicer engaged in the mortgage business as defined by G.S. 53-244.030(11)c., in addition to duties imposed by other statutes or at common...
• N.C. Gen. Stat. § 53-244.111.   Prohibited acts
  In addition to the activities prohibited under other provisions of this Article, it shall be unlawful for any person in the course of any...
• N.C. Gen. Stat. § 53-244.112.   Criminal penalties for unlicensed activity
  Engaging in the mortgage business as defined by G.S. 53-244.030(11) or acting as a mortgage loan originator without a license as required by the...
• N.C. Gen. Stat. § 53-244.113.   Regulatory authority
  (a) Unless otherwise provided, all actions, hearings, and procedures under this Article shall be governed by Article 3A of Chapter 150B of the General...
• N.C. Gen. Stat. § 53-244.114.   Licensure authority
  (a) The Commissioner may, by order, deny, suspend, revoke, or refuse to issue or renew a license of a licensee or applicant under this...
• N.C. Gen. Stat. § 53-244.115.   Investigation and examination authority
  (a) For purposes of initial licensing, license renewal, suspension, conditioning, revocation, or termination, or general or specific inquiry, investigation, or examination to determine compliance...
• N.C. Gen. Stat. § 53-244.116.   Disciplinary authority
  (a) The Commissioner may, by order: (1) Take any action authorized under G.S. 53-244.113. (2) Impose a civil penalty upon a licensee, individual, or...
• N.C. Gen. Stat. § 53-244.117.   Repealed by Session Laws 2013-412, s. 6, effective August 23, 2013
• N.C. Gen. Stat. § 53-244.118.   Rule-making authority; records
  (a) The Commissioner may adopt any rules that the Commissioner deems necessary to carry out the provisions of this Article, to provide for the...
• N.C. Gen. Stat. § 53-244.119.   Commissioner's participation in nationwide registry
  (a) The Commissioner shall require mortgage loan originators and transitional mortgage loan originators to be licensed and registered through the Nationwide Mortgage Licensing System...
• N.C. Gen. Stat. § 53-244.120.   Confidentiality of information
  (a) Notwithstanding any State law to the contrary, the Commissioner shall report enforcement actions under this Article and may report other relevant information to...
• N.C. Gen. Stat. § 53-244.121.   Review by Banking Commission
  The Banking Commission may review any rule, regulation, order, or act of the Commissioner made pursuant to or with respect to the provisions of...

Article 20 - Refund Anticipation Loan Act.

• N.C. Gen. Stat. § 53-245.   Title and scope
  (a) Title. This Article shall be known and cited as the "Refund Anticipation Loan Act". (b) Scope. No person may individually or in conjunction...
• N.C. Gen. Stat. § 53-246.   Definitions
  The following definitions apply in this Article: (1) Applicant. A person who applies for registration as a facilitator of refund anticipation loans. (2) Commission....
• N.C. Gen. Stat. § 53-247.   Registration requirement
  (a) Registration Requirement. No person may individually or in conjunction or cooperation with another person process, receive, or accept for delivery an application for...
• N.C. Gen. Stat. § 53-248.   Registration procedure; informal hearing
  (a) Initial Registration. An application to become registered as a facilitator shall be in writing, under oath, and in a form prescribed by the...
• N.C. Gen. Stat. § 53-249.   Filing and posting of loan fees; disclosures
  (a) Filing of Fee Schedule. On or before January 2 of each year, each registrant shall file with the Commissioner a schedule of the...
• N.C. Gen. Stat. § 53-250.   Prohibited activities
  A facilitator of a refund anticipation loan may not engage in any of the following activities: (1) Misrepresenting a material factor or condition of...
• N.C. Gen. Stat. § 53-251.   Cease and desist; revocation of registration; penalties
  (a) Cease and Desist Order. Upon the finding that any action of a registrant may be in violation of this Article or that the...
• N.C. Gen. Stat. § 53-252.   Appeal of Commissioner's decision
  The Commission may review any rule, regulation, order, or act of the Commissioner done pursuant to or with respect to the provisions of this...
• N.C. Gen. Stat. § 53-253.   Rules; enforcement
  The Banking Commission may adopt reasonable rules as necessary to effectuate the purpose of this Article, to provide for the protection of the borrowing...
• N.C. Gen. Stat. § 53-254.   Exemption
  This Article does not apply to a person who does not deal directly with debtors but who acts solely as an intermediary by processing...

Article 21 - Reverse Mortgages.

• N.C. Gen. Stat. § 53-255.   Title
  This Article shall be known and may be cited as the Reverse Mortgage Act. (1991, c. 546, s. 1; 1995, c. 115, s. 1.)
• N.C. Gen. Stat. § 53-256.   Purpose
  It is the intent of the General Assembly that reverse mortgage loans be available so that elderly homeowners may use the equity in their...
• N.C. Gen. Stat. § 53-257.   Definitions
  The following definitions apply in this Article: (1) Authorized lender or lender. - The North Carolina Housing Finance Agency, any lender authorized to engage...
• N.C. Gen. Stat. § 53-258.   Authority and procedures governing reverse mortgage loans
  (a) Except as provided in subsection (b1) of this section, no person, firm, or corporation shall engage in the business of making reverse mortgage...
• N.C. Gen. Stat. § 53-259.   Application of rules
  In addition to the provisions of this Article, authorized lenders shall comply with rules adopted by the Commissioner that are reasonable and necessary to...
• N.C. Gen. Stat. § 53-260.   Interest
  Notwithstanding any other provisions of law to the contrary, the parties to a reverse mortgage loan may contract for the payment of interest at...
• N.C. Gen. Stat. § 53-261.   Taxes, insurance, and assessments
  A reverse mortgage loan contract may provide that it is the primary obligation of the borrower to pay all property taxes, insurance premiums, and...
• N.C. Gen. Stat. § 53-262.   Renegotiation of loan; calculation of outstanding balance; prepayment
  (a) If a reverse mortgage loan contract allows for a change in the payments or payment options, the lender may charge a reasonable fee...
• N.C. Gen. Stat. § 53-263.   Limits on borrowers' liability
  (a) When a reverse mortgage loan becomes due, if the borrower mortgaged one hundred percent (100%) of the full value of the house then...
• N.C. Gen. Stat. § 53-264.   Disclosures of loan terms
  (a) On forms prescribed by the Commissioner, all authorized lenders shall provide all of the following information to the Commissioner for dissemination to all...
• N.C. Gen. Stat. § 53-265.   Information required of lender
  (a) At the closing of the reverse mortgage loan, the lender shall provide to the borrower the name of the lender's employee or agent...
• N.C. Gen. Stat. § 53-266.   Effects of lender's default
  (a) A lender's failure to make loan advances to the borrower under the reverse mortgage loan contract shall be deemed the lender's default of...
• N.C. Gen. Stat. § 53-267.   Repayment upon borrower's default
  A reverse mortgage loan contract may provide for a borrower's default, thereby triggering early repayment of the loan, based only upon one or more...
• N.C. Gen. Stat. § 53-268.   Time for initiation of foreclosure
  When a borrower's obligation to repay the reverse mortgage loan is triggered under G.S. 53-267, in addition to all rights conferred upon owners and...
• N.C. Gen. Stat. § 53-269.   Counseling provisions
  (a) The North Carolina Housing Finance Agency shall adopt rules governing the training of counselors and necessary standards for counselor training and shall establish...
• N.C. Gen. Stat. § 53-270.   Prohibited acts
  Reverse mortgage lenders are prohibited from engaging in any of the following acts in connection with the making, servicing, or collecting of a reverse...
• N.C. Gen. Stat. § 53-270.1.   Contracts for shared appreciation or shared value
  (a) A lender and a borrower may agree, in writing, that in addition to the principal and any interest accruing on the outstanding balance...
• N.C. Gen. Stat. § 53-271.   Commissioner's authority to enforce; penalties
  (a) The Commissioner shall adopt rules necessary to implement and enforce the provisions of this Article. Upon finding probable cause to believe that an...
• N.C. Gen. Stat. § 53-272.   Appeals
  The Banking Commission may review any rule, regulation, order, or act of the Commissioner done pursuant to or with respect to the provisions of...
• N.C. Gen. Stat. § 53-273.   Reserved for future codification purposes
• N.C. Gen. Stat. § 53-274.   Reserved for future codification purposes

Article 22 - Check-Cashing Businesses.

• N.C. Gen. Stat. § 53-275.   Definitions
  As used in this Article, unless the context clearly requires otherwise, the term: (1) "Cashing" means providing currency for payment instruments, but does not...
• N.C. Gen. Stat. § 53-276.   License required
  No person or other entity may engage in the business of cashing checks, drafts, or money orders for consideration without first obtaining a license...
• N.C. Gen. Stat. § 53-277.   Exemptions
  (a) This Article shall not apply to: (1) A bank, savings institution, credit union, or farm credit system organized under the laws of the...
• N.C. Gen. Stat. § 53-278.   Application for license; investigation; application fee
  (a) An application for licensure under this Article shall be in writing, under oath, and on a form prescribed by the Commissioner. The application...
• N.C. Gen. Stat. § 53-279.   Liquid assets required; other qualifications; denial of license; hearing
  (a) Every licensee and applicant shall have and maintain liquid assets of at least fifty thousand dollars ($50,000) per licensee. (b) Upon the filing...
• N.C. Gen. Stat. § 53-280.   Maximum fees for service; fees posted; endorsement of checks cashed
  (a) Notwithstanding any other provision of law, no check-cashing business licensed under this Article shall directly or indirectly charge or collect fees or other...
• N.C. Gen. Stat. § 53-281.   Expired
• N.C. Gen. Stat. § 53-282.   Record keeping; receipt requirements
  (a) Every person required to be licensed under this Article shall maintain in its offices such books, accounts, and records as the Commissioner may...
• N.C. Gen. Stat. § 53-283.   Prohibited practices
  No person required to be licensed under this Article shall do any of the following: (1) Charge fees in excess of those authorized under...
• N.C. Gen. Stat. § 53-284.   Suspension and revocation of license; grounds; procedure
  (a) The Commissioner may suspend or revoke any license or licenses issued pursuant to this Article if, after notice and opportunity for hearing, the...
• N.C. Gen. Stat. § 53-285.   Cease and desist orders
  If the Commissioner determines that a person required to be licensed under this Article has violated this Article or rules adopted pursuant to it,...
• N.C. Gen. Stat. § 53-286.   Civil penalties and restitution
  The Commissioner may order and impose civil penalties upon any person required to be licensed under this Article for violations of this Article or...
• N.C. Gen. Stat. § 53-287.   Criminal penalties
  A violation of G.S. 53-276 by a person required to obtain a license under this Article is a Class I felony. Each transaction involving...
• N.C. Gen. Stat. § 53-288.   Commissioner to adopt rules
  The Commissioner may adopt rules necessary to carry out the purposes of this Article, to provide for the protection of the public, and to...
• N.C. Gen. Stat. § 53-289.   Commission may review rules, orders, or acts by Commissioner
  The Commission may review any rule, regulation, order, or act of the Commissioner done pursuant to or with respect to the provisions of this...
• N.C. Gen. Stat. § 53-290 through 53-294.   Reserved for future codification purposes

Article 23 - Continuity of Contract Under European Monetary Union.

• N.C. Gen. Stat. § 53-295.   Definitions
  The following definitions shall apply in this Article: (1) Euro. - The currency of participating member states of the European Union that adopt a...
• N.C. Gen. Stat. § 53-296.   Continuity of contract
  (a) If a subject of medium of payment of a contract, security, or instrument is a currency that has been substituted or replaced by...
• N.C. Gen. Stat. § 53-297.   Effect of currency substitution on performance
  None of the following shall have the effect of discharging or excusing performance under any contract, security, or instrument, or give a party the...
• N.C. Gen. Stat. § 53-298.   References to ECU in contracts
  (a) References to the ECU in a contract, security, or other instrument that also refers in substance to the definition of the ECU as...
• N.C. Gen. Stat. § 53-299.   Application
  Notwithstanding any other law, this Article shall apply to all contracts, securities, and instruments, including contracts with respect to commercial transactions. (1999-312, s. 1.)
• N.C. Gen. Stat. § 53-300.   No application to other currency alteration
  In circumstances of currency alteration other than the introduction of the euro, this Article shall not be interpreted as creating any negative inference or...

Article 24 - Trust Companies and Interstate Trust Business.

• N.C. Gen. Stat. § 53-301.   Definitions
  (a) Except as otherwise provided in this Article, or when the context clearly indicates that a different meaning is intended, the following definitions shall...
• N.C. Gen. Stat. § 53-302.   Title and purposes
  (a) This Part may be cited as the Multistate Trust Institutions Act. (b) It is the express intent of this Part to permit trust...
• N.C. Gen. Stat. § 53-303.   Companies authorized to engage in trust business
  (a) No company shall engage in trust business in this State except: (1) A State trust company; (2) A State bank; (3) A State...
• N.C. Gen. Stat. § 53-304.   Activities not requiring a charter, license, or approval
  Notwithstanding any other provision of this Article, a company does not act as a fiduciary; engage in trust business or in any other business...
• N.C. Gen. Stat. § 53-305.   Trust business of State trust institution
  A State trust institution may conduct any activities outside this State that are permissible for a trust institution in the host state, subject to...
• N.C. Gen. Stat. § 53-306.   Trust business of out-of-state trust institution
  An out-of-state trust institution that establishes or acquires and maintains one or more trust offices or representative trust offices in this State under the...
• N.C. Gen. Stat. § 53-307.   Trust business of foreign trust institution
  A foreign trust institution that establishes or acquires and maintains one or more trust offices in this State under the provisions of this Part...
• N.C. Gen. Stat. § 53-308.   Name of trust institution
  Subject to other provisions of applicable law, a person may register or reserve any name with the Secretary of State in connection with engaging...
• N.C. Gen. Stat. § 53-309.   Trust deposits of authorized trust institutions
  (a) Subsection (b) of G.S. 36A-63 shall not apply to an authorized trust institution. (b) In the absence of a contrary provision in an...
• N.C. Gen. Stat. § 53-310.   Offices of State trust companies
  (a) A State trust company may engage in trust business or trust marketing through its principal office and through each trust office as permitted...
• N.C. Gen. Stat. § 53-311.   State trust company principal office
  (a) Each State trust company is required to maintain a principal office in this State and to register that principal office with the Commissioner...
• N.C. Gen. Stat. § 53-312.   Trust offices; representative trust offices
  (a) Before establishing or acquiring and maintaining a trust office or representative trust office in this State, a State trust company shall file a...
• N.C. Gen. Stat. § 53-313.   Out-of-state trust offices and representative trust offices
  (a) Before establishing or acquiring and maintaining a trust office or representative trust office in a host state, a State trust company shall file...
• N.C. Gen. Stat. § 53-314.   Trust business through a branch or trust office
  An out-of-state trust institution may engage in trust business in this State only if it (i) maintains a trust office in this State as...
• N.C. Gen. Stat. § 53-315.   Establishing an interstate trust office
  An out-of-state trust institution that obtains approval from the Commissioner in accordance with the provisions of this Subpart may establish and maintain a trust...
• N.C. Gen. Stat. § 53-316.   Acquiring an interstate trust office
  An out-of-state trust institution that obtains approval from the Commissioner in accordance with the provisions of this Subpart may acquire and maintain a trust...
• N.C. Gen. Stat. § 53-317.   Requirement of notice
  Before establishing or acquiring and maintaining a trust office in this State, an out-of-state trust institution shall provide, or cause its home state regulator...
• N.C. Gen. Stat. § 53-318.   Action on notice
  (a) The out-of-state trust institution may commence business in this State through the trust office on the sixty-first day following the date the Commissioner...
• N.C. Gen. Stat. § 53-319.   Additional trust offices; representative trust offices
  (a) An out-of-state trust institution that maintains a trust office in this State may establish or acquire and maintain additional trust offices or one...
• N.C. Gen. Stat. § 53-320.   Examinations; periodic reports; cooperative agreements; assessment of fees
  (a) The Commissioner may examine any activity conducted through a trust office or representative trust office maintained in this State by an out-of-state trust...
• N.C. Gen. Stat. § 53-321.   Enforcement
  (a) Consistent with Article 3A of Chapter 150B of the General Statutes, after notice and opportunity for hearing, the Commissioner may determine: (1) That...
• N.C. Gen. Stat. § 53-322.   Notice of transactions that cause a change in control
  Each out-of-state trust institution that maintains a trust office or representative trust office in this State, or the home state regulator of the trust...
• N.C. Gen. Stat. § 53-323.   Foreign trust institution application for trust office or representative trust office
  Before establishing or acquiring and maintaining a trust office in this State, a foreign trust institution shall make application to the Commissioner for permission...
• N.C. Gen. Stat. § 53-324.   Conditions for approval
  (a) A foreign trust institution may engage in trust business in this State only on approval by the Commissioner of an application described in...
• N.C. Gen. Stat. § 53-325.   Additional trust offices and representative trust offices
  A foreign trust institution that maintains a trust office in this State under the provisions of this Subpart may establish or acquire and maintain...
• N.C. Gen. Stat. § 53-326.   Examinations; periodic reports; cooperative agreements; assessment of fees
  (a) The Commissioner may examine any activity conducted through a trust office or representative trust office maintained in this State by a foreign trust...
• N.C. Gen. Stat. § 53-327.   Enforcement
  (a) Consistent with Article 3A of Chapter 150B of the General Statutes, after notice and opportunity for hearing, the Commissioner may determine: (1) That...
• N.C. Gen. Stat. § 53-328.   Notice of transactions that cause a change in control
  Each foreign trust institution that maintains a trust office or representative trust office in this State, or the home country regulator of the foreign...
• N.C. Gen. Stat. § 53-329.   International agreements
  If any provision of this Article concerning foreign trust institutions, or the application of that provision, is found by any competent adjudicatory body to...
• N.C. Gen. Stat. § 53-330.   Title and purposes
  (a) This Part may be cited as the State Trust Company Charter Act. (b) It is the express intent of this Part to provide...
• N.C. Gen. Stat. § 53-331.   Organization and powers of State trust company
  (a) Subject to the other provisions of this Part, one or more persons may organize and charter a State trust company, which may be...
• N.C. Gen. Stat. § 53-332.   Articles of incorporation of State trust company
  (a) The articles of incorporation of a State trust company shall be signed and acknowledged by or on behalf of each organizer and shall...
• N.C. Gen. Stat. § 53-333.   Application for State trust company charter and permission to incorporate State trust company
  (a) An application for a State trust company charter and permission to incorporate the State trust company shall be made to the Commissioner in...
• N.C. Gen. Stat. § 53-334.   Notice and investigation of charter application
  (a) The Commissioner shall notify the organizers when the application is complete and accepted for filing and all required fees have been paid. (b)...
• N.C. Gen. Stat. § 53-335.   Decision on charter application and hearing
  (a) The Commissioner, based on the application and investigation described in this Subpart, shall enter an order approving or denying approval of the application....
• N.C. Gen. Stat. § 53-336.   Issuance of charter
  (a) A proposed State trust company shall not be incorporated or engage in trust business or trust marketing until it receives a charter issued...
• N.C. Gen. Stat. § 53-337.   Required initial capital
  (a) The Commissioner shall not issue a charter to a proposed State trust company having initial capital of less than two million dollars ($2,000,000),...
• N.C. Gen. Stat. § 53-338.   Subordinated notes or debentures
  The amount of any outstanding notes or debentures that are subordinated to creditors or classes of creditors of the State trust company may be...
• N.C. Gen. Stat. § 53-339.   Application of laws relating to general business corporations
  Chapter 55 of the General Statutes applies to a State trust company to the extent not inconsistent with this Article. Except for the filing...
• N.C. Gen. Stat. § 53-340.   Investment in State trust company facilities
  (a) A State trust company may invest in one or more State trust company facilities consistent with the safe and sound operation of a...
• N.C. Gen. Stat. § 53-341.   Other real estate
  (a) A State trust company shall not acquire real estate other than a State trust company facility for its own account except: (1) Securitized...
• N.C. Gen. Stat. § 53-342.   Securities and other investments
  (a) A State trust company may invest its corporate funds in any type or character of equity securities or debt securities subject to the...
• N.C. Gen. Stat. § 53-343.   Prohibited distributions, acquisitions, liens, or pledges
  A State trust company shall not make any distribution to its shareholders, acquire its own shares, acquire a lien upon its own shares, or...
• N.C. Gen. Stat. § 53-344.   Subsidiaries
  (a) Before acquiring, establishing, or performing activities through a subsidiary, a State trust company shall file a notice with the Commissioner, in the form...
• N.C. Gen. Stat. § 53-345.   Engaging in commerce prohibited
  Except as otherwise provided by this Part, or by rules, orders, or declaratory rulings of the Commissioner, a State trust company shall not engage...
• N.C. Gen. Stat. § 53-346.   Lending and lease financing; conversion to State bank
  (a) Except as may be appropriate for extensions of credit in connection with trust or other account relationships, and as provided in and subject...
• N.C. Gen. Stat. § 53-347.   Acquisition of control
  (a) Except as this section otherwise expressly permits, a person shall not, without the approval of the Commissioner, directly or indirectly acquire control of...
• N.C. Gen. Stat. § 53-348.   Application regarding acquisition of control
  (a) A person seeking approval to acquire control of a State trust company shall file with the Commissioner: (1) An application in the form...
• N.C. Gen. Stat. § 53-349.   Decision on acquisition of control
  (a) Not later than the sixtieth day following receipt of the application, the Commissioner shall either approve or deny the proposed acquisition of control....
• N.C. Gen. Stat. § 53-350.   Appeal
  Any order entered by the Commissioner with respect to an application for acquisition or control of a State trust company shall be subject to...
• N.C. Gen. Stat. § 53-351.   Report of changes in chief executive officer or directors
  Each State trust company shall report to the Commissioner within 48 hours, on the forms and with the information required by the Commissioner, any...
• N.C. Gen. Stat. § 53-352.   Board of directors
  (a) All corporate powers of a State trust company shall be exercised under the authority of, and the business and affairs of a State...
• N.C. Gen. Stat. § 53-353.   Required board meetings
  The board of directors of a State trust company shall hold at least one regular meeting each quarter. At each regular meeting, the board...
• N.C. Gen. Stat. § 53-354.   Officers
  The board of directors shall annually appoint the officers of the State trust company who shall serve at the pleasure of the board. The...
• N.C. Gen. Stat. § 53-355.   Certain criminal offenses
  (a) An officer, director, employee, or shareholder of a State trust company commits an offense if the person knowingly: (1) Conceals information or a...
• N.C. Gen. Stat. § 53-356.   Responsibility of directors
  (a) The standard of conduct for directors shall be as set forth in G.S. 55-8-30. (b) Any director of a State trust company who...
• N.C. Gen. Stat. § 53-357.   Record keeping
  A State trust company shall keep its fiduciary records separate and distinct from its other records. The fiduciary records shall contain all material information...
• N.C. Gen. Stat. § 53-358.   Bonding requirements; reports of apparent crime
  (a) The board of directors of a State trust company shall require protection and indemnity for the State trust company and its clients in...
• N.C. Gen. Stat. § 53-359.   Merger, share exchange, or asset transfer authority
  (a) With the approval of the Commissioner, a State trust company may merge or exchange its shares with, or acquire or be acquired through...
• N.C. Gen. Stat. § 53-360.   Merger, share exchange, or asset transfer application
  (a) A copy of the proposed articles of merger or share exchange, or asset transfer agreement, and an application in the form required by...
• N.C. Gen. Stat. § 53-361.   Notice and investigation of merger, share exchange, or asset transfer; decision, hearing, and appeal
  (a) The Commissioner shall notify the parties to the proposed merger, share exchange, or asset transfer when the application is complete and all required...
• N.C. Gen. Stat. § 53-362.   Appraisal rights of shareholders in mergers, share exchanges, or asset transfers
  A shareholder of a State trust company may exercise appraisal rights in connection with the proposed merger, share exchange, or asset transfer to the...
• N.C. Gen. Stat. § 53-363.   Private trust companies
  (a) The following definitions apply in this Subpart: (1) "Designated relative" means the individual required to be named in the application under G.S. 53-364(a)(5)...
• N.C. Gen. Stat. § 53-364.   Requirements to apply for and maintain status as a private trust company
  (a) A private trust company or a proposed private trust company requesting an exemption from the provisions of this Article pursuant to G.S. 53-363...
• N.C. Gen. Stat. § 53-365.   Conversion to public trust company
  (a) Before transacting business with the general public, a private trust company shall file a notice on a form prescribed by the Commissioner, which...
• N.C. Gen. Stat. § 53-366.   Applicability of other laws to authorized trust institutions; status of State trust company
  (a) Except as otherwise provided in this Article, the following provisions of this Chapter and Chapter 53C of the General Statutes shall apply to...
• N.C. Gen. Stat. § 53-367.   Commissioner shall have supervision over authorized trust institutions and shall examine
  Every authorized trust institution shall be under the supervision of the Commissioner. The Commissioner may periodically examine and require reports from authorized trust institutions,...
• N.C. Gen. Stat. § 53-368.   Assessment of State trust companies
  (a) For the purpose of operating and maintaining the office of the Commissioner, each State trust company shall pay into the office of the...
• N.C. Gen. Stat. § 53-369.   Administrative orders; penalties for violation; increase of equity capital
  (a) In addition to any other powers conferred by this Chapter, the Commissioner may: (1) Order any authorized trust institution, or affiliate thereof, or...
• N.C. Gen. Stat. § 53-370.   Notice and opportunity for hearing
  Consistent with Chapter 150B of the General Statutes, notice and opportunity for hearing shall be provided before the Commissioner may act under the provisions...
• N.C. Gen. Stat. § 53-371.   Removal of directors, officers, and employees
  The Commissioner may require the immediate removal from office of any officer, director, or employee of any State trust company, who shall be found...
• N.C. Gen. Stat. § 53-372.   Required vote of shareholders
  With the approval of the Commissioner, a State trust company may go into voluntary liquidation, be closed, and surrender its charter and franchise as...
• N.C. Gen. Stat. § 53-373.   Corporate procedure
  Shareholder action to liquidate a State trust company shall be taken at a meeting of the shareholders duly called by resolution of the board...
• N.C. Gen. Stat. § 53-374.   Authority to liquidate; publication
  If the Commissioner approves the liquidation, the Commissioner shall issue to the State trust company, under the Commissioner's seal, a permit for liquidation. No...
• N.C. Gen. Stat. § 53-375.   Examination and reports
  When any State trust company is in the process of voluntary liquidation, it shall be subject to examination by the Commissioner and shall furnish...
• N.C. Gen. Stat. § 53-376.   Unclaimed property
  All unclaimed property remaining with a State trust company voluntarily liquidated under the provisions of this Subpart shall be subject to the provisions of...
• N.C. Gen. Stat. § 53-377.   When Commissioner may take charge
  The Commissioner may take possession of the business and property of any State trust company whenever it appears that the trust company: (1) Is...
• N.C. Gen. Stat. § 53-378.   Directors may act
  A State trust company may place its assets and business under the control of the Commissioner by a resolution of a majority of its...
• N.C. Gen. Stat. § 53-379.   Notice of seizure; bar to attachment of liens
  When the Commissioner takes possession of any State trust company under G.S. 53-377 or G.S. 53-378, the Commissioner shall, within 48 hours, file with...
• N.C. Gen. Stat. § 53-380.   Notice to trust institutions, corporations, and others holding assets; existing liens
  Upon taking possession of the assets and business of any State trust company, the Commissioner shall forthwith give notice, by mail or otherwise, of...
• N.C. Gen. Stat. § 53-381.   Permission to resume business
  (a) After the Commissioner has taken possession of a State trust company under the provisions of this Subpart, the State trust company may resume...
• N.C. Gen. Stat. § 53-382.   Remedy for seizure; answer to notice; injunction; appeal; and motions
  (a) Whenever any State trust company of which the Commissioner has taken possession under G.S. 53-377 shall deem itself aggrieved thereby, it may file...
• N.C. Gen. Stat. § 53-383.   Collection of debts and claims; Commissioner succeeds to all property of the State trust company
  (a) Upon taking possession of the assets and business of any State trust company, the Commissioner is authorized to collect all money due the...
• N.C. Gen. Stat. § 53-384.   Bond of the Commissioner; surety; condition; minimum penalty
  Upon taking possession of any State trust company, the Commissioner shall execute and file a bond payable to this State for the benefit of...
• N.C. Gen. Stat. § 53-385.   Inventory
  Within 90 days after the filing of a notice described in G.S. 53-379, the Commissioner shall file an inventory of the assets and liabilities,...
• N.C. Gen. Stat. § 53-386.   Notice and time for filing claims
  Notice shall be given by advertisement once a week for four consecutive weeks in a newspaper published in the county where the principal office...
• N.C. Gen. Stat. § 53-387.   Power to reject claims; notice; affidavit of service; action on claims
  If the Commissioner doubts the validity of any claim, the Commissioner may reject the claim, in whole or in part, and serve notice of...
• N.C. Gen. Stat. § 53-388.   List of claims presented, copies, and proviso
  Upon the expiration of the time fixed for presentation of claims, the Commissioner shall make a full and complete list of the claims presented,...
• N.C. Gen. Stat. § 53-389.   Declaration of dividends; order of preference in distribution
  (a) At any time after the expiration of the date fixed by the Commissioner for the presentation of claims against the State trust company,...
• N.C. Gen. Stat. § 53-390.   Deposit of funds collected
  All funds collected by the Commissioner, in liquidating any State trust company, shall be deposited from time to time in a bank as may...
• N.C. Gen. Stat. § 53-391.   Employment of counsel, accountants, and other experts; compensation
  The Commissioner, for the purpose of exercising any power under the provisions of this Subpart, may (i) employ any liquidating agents, attorneys, accountants, consultants,...
• N.C. Gen. Stat. § 53-392.   Unclaimed dividends held in trust
  Unclaimed dividends for claims described in subdivisions (a)(1) through (a)(4) of G.S. 53-389 shall be held by the Commissioner in trust for the claimants...
• N.C. Gen. Stat. § 53-393.   Action by the Commissioner following full settlement
  Whenever the Commissioner has paid all duly proven and allowed claims described in subdivisions (a)(1) through (a)(4) of G.S. 53-389, has made proper provision...
• N.C. Gen. Stat. § 53-394.   Annual report of the Commissioner; items included; reports of condition of State trust companies
  (a) The Commissioner shall file, as a part of an annual report to the Governor, a list of the names of any State trust...
• N.C. Gen. Stat. § 53-395.   Compensation of the Commissioner's office
  The office of the Commissioner, for services rendered in connection with the duties described in this Subpart, shall be entitled to actual expenses incurred...
• N.C. Gen. Stat. § 53-396.   Exclusive method of liquidation
  No State trust company shall be liquidated other than as provided in this Part. (2001-263, s. 1.)
• N.C. Gen. Stat. § 53-397.   Disposition of books and records
  All fiduciary records relating to the administration of particular accounts shall be turned over to the successors in charge of administration of the accounts....
• N.C. Gen. Stat. § 53-398.   Destruction of books and records
  (a) After the expiration of five years from the date of filing, in the office of the clerk of the superior court of the...
• N.C. Gen. Stat. § 53-399.   Petition for new trustee
  Any person interested in any account, either as trustee, beneficiary, client, or otherwise, may petition the clerk of superior court of the county in...
• N.C. Gen. Stat. § 53-400.   Report to the Secretary of State
  The Commissioner shall, on or before the first day of each year, file with the Secretary of State a report showing any State trust...
• N.C. Gen. Stat. § 53-401.   Provisions for conservator; duties and powers
  Whenever the Commissioner deems it necessary in order to conserve the assets of a State trust company for the benefit of clients or creditors,...
• N.C. Gen. Stat. § 53-402.   Examination
  The Commissioner shall examine the affairs of a State trust company placed under conservatorship in the manner deemed necessary by the Commissioner to oversee...
• N.C. Gen. Stat. § 53-403.   Termination of conservatorship
  If the Commissioner is satisfied that the conservatorship may be terminated with safety to the clients, creditors, and shareholders of the State trust company,...
• N.C. Gen. Stat. § 53-404.   Rights and liabilities of conservator
  A conservator appointed pursuant to the provisions of this Subpart is subject to the provisions of G.S. 53-331 and to the penalties prescribed by...
• N.C. Gen. Stat. § 53-405.   Naming of conservator not liquidation
  No power conferred in this Subpart upon the Commissioner, when exercised, shall be deemed as an act of possession for the purposes of liquidation;...
• N.C. Gen. Stat. § 53-406.   Sale of assets by board of jeopardized State trust company
  (a) With the Commissioner's approval, the board of directors of a jeopardized State trust company, acting without shareholder approval and notwithstanding any other provision...
• N.C. Gen. Stat. § 53-407.   Authority to act as disbursing agent
  If a purchasing trust institution acts under a written agency contract that (i) is approved by the Commissioner; (ii) specifically names each creditor and...
• N.C. Gen. Stat. § 53-408.   Payment to creditors
  Payment to a creditor of the selling institution of the amount to be paid under the terms of a contract of agency described in...
• N.C. Gen. Stat. § 53-409.   Issuance of preferred shares by jeopardized trust company
  Notwithstanding any other provisions of this Article or any other laws, and notwithstanding any of the provisions of its articles of incorporation or bylaws,...
• N.C. Gen. Stat. § 53-410.   Commissioner to act under authority of the Commission
  All the powers, duties, and functions granted to or imposed upon the Commissioner by law shall be exercised under the direction and supervision of...
• N.C. Gen. Stat. § 53-411.   Rules
  The Commission may adopt rules in accordance with Chapter 150B of the General Statutes to carry out the provisions of this Article relating to...
• N.C. Gen. Stat. § 53-412.   Commissioner hearings; appeals
  (a) This section does not grant a right to a hearing to a person that is not otherwise granted by governing law. (b) The...
• N.C. Gen. Stat. § 53-413.   Civil enforcement
  The Commissioner may bring any appropriate civil action against any person the Commissioner believes has committed or is about to commit a violation of...
• N.C. Gen. Stat. § 53-414.   Cancellation of charter
  Whenever a merger, share exchange, sale of assets, liquidation, or other transaction occurs by which a State trust company ceases to exist or ceases...
• N.C. Gen. Stat. § 53-415.   Severability
  If any provision of this Article, or its application, is found by any court of competent jurisdiction in the United States to be invalid...
• N.C. Gen. Stat. § 53-416.   Reserved for future codification purposes
• N.C. Gen. Stat. § 53-417.   Reserved for future codification purposes
• N.C. Gen. Stat. § 53-418.   Reserved for future codification purposes
• N.C. Gen. Stat. § 53-419.   Reserved for future codification purposes
• N.C. Gen. Stat. § 53-420.   Affiliate transfers authorized; procedure
  (a) A trust institution may make an affiliate transfer of one or more accounts subject to the provisions of this Part unless the provisions...
• N.C. Gen. Stat. § 53-421.   Objection to affiliate transfer
  If a client, or a person acting on behalf of the client, delivers a written objection to the affiliate transfer to the transferring trust...
• N.C. Gen. Stat. § 53-422.   Effect of affiliate transfer
  (a) Following an affiliate transfer, the transferee trust institution shall have all of the rights, powers, privileges, appointments, accounts, and designations of the transferring...
• N.C. Gen. Stat. § 53-423.   Trust institution as agent
  A trust institution may appoint another trust institution that is its affiliate as its agent for the performance of acts, obligations, and responsibilities with...
• N.C. Gen. Stat. § 53-424.   Construction
  (a) Except as expressly provided in this Part, nothing in this Part shall be construed to amend or modify the laws of this State...

Article 25 - Asset-Backed Securities Facilitation.

• N.C. Gen. Stat. § 53-425.   Definitions
  The following definitions apply in this Article: (1) Beneficial interest. - Debt or equity interests or obligations of any type that are issued by...
• N.C. Gen. Stat. § 53-426.   Waiver of equity of redemption
  (a) Notwithstanding any other provision of law, except to the extent otherwise set forth in the transaction documents relating to a securitization, all of...

Last modified: March 23, 2014