North Carolina General Statutes § 54C-56 Prolonged audit, examination, or revaluation; payment of costs

(a)        If, in the opinion of the Commissioner of Banks, an examination conducted under G.S. 54C-55 fails to disclose the complete financial condition of a savings bank, the Commissioner of Banks may in order to ascertain its complete financial condition:

(1)        Make an extended audit or examination of the savings bank or cause an audit or examination to be made by an independent auditor; and

(2)        Make an extended revaluation of any of the assets or liabilities of the savings bank or cause an independent appraiser to make a revaluation.

(b)        The Commissioner of Banks shall collect from the savings bank a reasonable sum for actual or necessary expenses of an audit, examination, or revaluation. (1991, c. 680, s. 1; 2001-193, s. 16.)

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Last modified: March 23, 2014