North Carolina General Statutes § 54C-176 Power to borrow money

A savings bank, in its certificate of incorporation or in its bylaws, may authorize the board of directors to borrow money, and the board of directors may, by resolution adopted by a vote of at least two-thirds of the entire board duly recorded in the minutes, authorize the officers of the savings bank to borrow money for the savings bank on any terms and conditions as the board may deem proper. (1991, c. 680, s. 1.)

Sections:  Previous  54C-169  54C-170  54C-171  54C-172  54C-173  54C-174  54C-175  54C-176  54C-177  54C-178  54C-179  54C-195  54C-196  54C-199  54C-200  Next

Last modified: March 23, 2014