North Carolina General Statutes Chapter 54C Savings Banks

Article 1 - General Provisions.

N.C. Gen. Stat. § 54C-1. Title
This Chapter shall be known and may be cited as "Savings Banks." (1991, c. 680, s. 1.)
N.C. Gen. Stat. § 54C-2. Purpose
The purposes of this Chapter are: (1) To provide for the safe and sound conduct of the business of savings banks, the conservation of...
N.C. Gen. Stat. § 54C-3. Applicability of Chapter
This Chapter, unless the context otherwise specifies, shall apply to all State savings banks. (1991, c. 680, s. 1.)
N.C. Gen. Stat. § 54C-4. Definitions and application of terms
(a) Except with respect to this Chapter and Chapter 54B, the term "savings and loan association" when used in the General Statutes shall include...
N.C. Gen. Stat. § 54C-5. Reserved for future codification purposes

Article 2 - Incorporation and Organization.

N.C. Gen. Stat. § 54C-6. Hearings
Any hearing required to be held by this Chapter shall be conducted in accordance with Article 3A of Chapter 150B of the General Statutes....
N.C. Gen. Stat. § 54C-7. Application of Chapter on business corporations
All law relating to private corporations, and particularly the North Carolina Business Corporation Act, Chapter 55 of the General Statutes, that is not inconsistent...
N.C. Gen. Stat. § 54C-8. Scope and prohibitions; existing charters; injunctions
(a) Nothing in this Chapter shall be construed to invalidate any charter that was valid before the enactment of this Chapter. Any savings banks...
N.C. Gen. Stat. § 54C-9. Application to organize a savings bank
(a) The original incorporators, a majority of whom shall be domiciled in this State, may organize and establish a savings bank in order to...
N.C. Gen. Stat. § 54C-10. Certificate of incorporation
(a) The certificate of incorporation of a proposed mutual savings bank shall set forth the following: (1) The name of the savings bank, which...
N.C. Gen. Stat. § 54C-11. Commissioner of Banks to consider application
Upon receipt of an application to organize and establish a savings bank, the Commissioner of Banks shall examine or cause to be examined all...
N.C. Gen. Stat. § 54C-12. Criteria to be met before the Commissioner of Banks may recommend approval of an application
(a) The Commissioner of Banks may recommend approval of an application to form a mutual savings bank only when all of the following criteria...
N.C. Gen. Stat. § 54C-13. Commission to review findings and recommendations of Commissioner of Banks
(a) If the Commissioner of Banks does not have the completed application within 120 days of the filing of the preliminary application, the application...
N.C. Gen. Stat. § 54C-14. Grounds for approval or denial of application
(a) After consideration of the findings, recommendations, and any oral testimony of the Commissioner of Banks, and the consideration of any other information and...
N.C. Gen. Stat. § 54C-15. Final decision
The Commission shall present the Commissioner of Banks with a final decision that is in accordance with Chapter 150B of the General Statutes. (1991,...
N.C. Gen. Stat. § 54C-16. Appeal
The final decision of the Commission may be appealed in accordance with Chapter 150B of the General Statutes. (1991, c. 680, s. 1.)
N.C. Gen. Stat. § 54C-17. Insurance of accounts required
A State savings bank shall obtain and maintain insurance on all members' and customers' deposit accounts from an insurance corporation created by an act...
N.C. Gen. Stat. § 54C-18. Repealed by Session Laws 1999-179, s. 2
N.C. Gen. Stat. § 54C-19. Time allowed to commence business
A newly chartered savings bank shall commence business within one year after the date upon which its corporate existence began. A savings bank that...
N.C. Gen. Stat. § 54C-20. Licensing
A newly chartered savings bank is entitled to a license to operate upon payment to the Division of the appropriate license fee as prescribed...
N.C. Gen. Stat. § 54C-21. Amendments to certificate of incorporation
(a) An amendment to the certificate of incorporation of a State savings bank shall be made at any annual or special meeting of the...
N.C. Gen. Stat. § 54C-22. List of stockholders to be maintained
A stock savings bank organized and operated under this Chapter shall, at all times, keep a current list of the names of all its...
N.C. Gen. Stat. § 54C-23. Branch offices
(a) A State savings bank may apply to the Commissioner of Banks for permission to establish a branch office. The application shall be in...
N.C. Gen. Stat. § 54C-24. Request to change location of a branch or principal office
The board of directors of a State savings bank may change the location of a branch office or the principal office of the savings...
N.C. Gen. Stat. § 54C-25. Approval revoked; branch office
The Commission may, for good cause and after a hearing, order the closing of a branch office. The order shall be made in writing...
N.C. Gen. Stat. § 54C-26. Branch offices closed
The Board of a State savings bank may discontinue the operation of a branch office upon giving at least 90 days prior written notice...
N.C. Gen. Stat. § 54C-27. Loan production office
A State savings bank may open or close a loan production office with the prior written approval of the Commissioner of Banks. The Commissioner...
N.C. Gen. Stat. § 54C-28. Reserved for future codification purposes
N.C. Gen. Stat. § 54C-29. Reserved for future codification purposes

Article 3 - Corporate Changes.

N.C. Gen. Stat. § 54C-30. Conversion to savings bank
(a) An association or State or national bank, upon a majority vote of its board of directors, may apply to the Commissioner of Banks...
N.C. Gen. Stat. § 54C-31. Conversion from State to federal charter
A State savings bank, stock or mutual, organized and operated under this Chapter, may convert to a federal charter in accordance with the laws...
N.C. Gen. Stat. § 54C-32. Simultaneous charter and ownership conversion
(a) In the event of a State charter to federal charter conversion, when the form of ownership will also simultaneously be changed from stock...
N.C. Gen. Stat. § 54C-33. Conversion of mutual to stock savings bank
(a) A mutual savings bank may convert from mutual to the stock form of ownership as provided in this section. (b) A mutual savings...
N.C. Gen. Stat. § 54C-34. Conversion of stock savings bank to mutual savings bank
A stock savings bank organized and operating under this Chapter may, subject to the approval of the Commissioner of Banks, convert to a mutual...
N.C. Gen. Stat. § 54C-35. Merger of like savings banks
Any two or more mutual savings banks or any two or more stock savings banks organized and operating, may merge or consolidate into a...
N.C. Gen. Stat. § 54C-36. Simultaneous conversion/merger
(a) The Commissioner of Banks shall not approve any application for the conversion of a savings bank from mutual to stock form and its...
N.C. Gen. Stat. § 54C-37. Merger of mutual and stock savings banks
Any two or more savings banks, when one or more is mutually owned and one or more is stock owned, may merge to form...
N.C. Gen. Stat. § 54C-38. Simultaneous merger and conversion
Any combination of associations and State savings banks may merge to form either an association or a State savings bank. (1991, c. 680, s.
N.C. Gen. Stat. § 54C-39. Merger of federal charters with State savings banks
Any two or more depository institutions, when one or more is a State savings bank and one or more is a federal depository institution...
N.C. Gen. Stat. § 54C-40. Merger of savings banks with banks and associations
(a) A State savings bank, upon a majority vote of its board of directors, may apply to the Commissioner of Banks for permission to...
N.C. Gen. Stat. § 54C-41. Voluntary dissolution by directors
A State savings bank may be voluntarily dissolved by a majority vote of the board of directors when substantially all of the assets have...
N.C. Gen. Stat. § 54C-42. Voluntary dissolution by stockholders or members
At any annual or special meeting called for the purpose of dissolution, a savings bank may, by an affirmative vote, in person or by...
N.C. Gen. Stat. § 54C-43. Reports of voluntary dissolution
Upon completion of liquidation, the liquidator shall file with the Commissioner of Banks a final report and accounting of the liquidation. The Commissioner of...
N.C. Gen. Stat. § 54C-44. Stock dividends
No dividend on stock shall be paid unless the savings bank has the prior written approval of the Commissioner of Banks, except as provided...
N.C. Gen. Stat. § 54C-45. Supervisory mergers, consolidations, conversions, and combination mergers and conversions
Notwithstanding any other provision of this Chapter, in order to protect the public, including members, depositors, and stockholders of a State savings bank, the...
N.C. Gen. Stat. § 54C-46. Interim savings banks
(a) Article 2 of this Chapter shall not apply to applications for permission to organize an interim State savings bank so long as the...
N.C. Gen. Stat. § 54C-47. Conversion to bank
(a) A State savings bank, upon a majority vote of its board of directors, may apply to the Commissioner of Banks for permission to...
N.C. Gen. Stat. § 54C-48 through 54C-51. Reserved for future codification purposes

Article 4 - Supervision.

N.C. Gen. Stat. § 54C-52. Supervision
(a) The Commissioner of Banks shall perform the duties and exercise the powers as to savings banks organized or operated under this Chapter, except...
N.C. Gen. Stat. § 54C-53. Power of Commissioner of Banks to adopt rules and definitions; reproduction of records
(a) The Commissioner of Banks shall adopt rules, definitions, and forms as may be necessary for the supervision and regulation of savings banks and...
N.C. Gen. Stat. § 54C-54. Examinations by Commissioner of Banks; report
(a) It is the Commissioner of Banks' duty, if at any time the Commissioner of Banks deems it prudent, to examine and investigate everything...
N.C. Gen. Stat. § 54C-55. Supervision and examination fees authorized; use of funds collected under Chapter
(a) Every State savings bank, including savings banks in process of voluntary liquidation, or a holding company thereof, shall pay into the office of...
N.C. Gen. Stat. § 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...
N.C. Gen. Stat. § 54C-57. Commissioner of Banks to have right of access to books and records of the savings bank; right to issue subpoenas, administer oaths, examine witnesses
(a) The Commissioner of Banks and the Commissioner of Banks' agents: (1) Shall have free access to all books and records of a savings...
N.C. Gen. Stat. § 54C-58. Test appraisals of collateral for loans; expense paid
(a) The Commissioner of Banks may direct the making of test appraisals of real estate and other collateral securing loans made by savings banks...
N.C. Gen. Stat. § 54C-59. Relationship of savings banks with the Savings Institutions Division
(a) Except as provided by subsection (b) of this section, a savings bank or any director, officer, employee, or representative thereof shall not grant...
N.C. Gen. Stat. § 54C-60. Confidential information
(a) The following records or information of the Commission, the Commissioner of Banks, or the agent of either shall be confidential and shall not...
N.C. Gen. Stat. § 54C-60.1. Confidential records
(a) As used in this section: (1) "Compliance review committee" means: a. An audit, loan review, or compliance committee appointed by the board of...
N.C. Gen. Stat. § 54C-61. Annual license fees
A state savings bank shall pay an annual license fee set by the Commissioner of Banks, subject to the advice and consent of the...
N.C. Gen. Stat. § 54C-62. Statement filed by savings bank; fees
A State savings bank shall file in the office of the Commissioner of Banks, on or before the first day of February in each...
N.C. Gen. Stat. § 54C-63. Statement examined, approved, and published
It is the duty of the Commissioner of Banks to receive and thoroughly examine each annual statement required by G.S. 54C-62, and if made...
N.C. Gen. Stat. § 54C-64. Prohibited practices
A person who engages in any of the following acts or practices is guilty of a Class 1 misdemeanor: (1) Defamation: Making, publishing, disseminating,...
N.C. Gen. Stat. § 54C-65 through 54C-75. Reserved for future codification purposes

Article 5 - Enforcement.

N.C. Gen. Stat. § 54C-76. Cease and desist orders
(a) If a person or savings bank is engaging in, or has engaged in, any unsafe or unsound practice or unfair and discriminatory practice...
N.C. Gen. Stat. § 54C-77. Civil penalties; State savings banks
(a) Except as otherwise provided in this Article, a savings bank that is found to have violated this Article may be ordered to pay...
N.C. Gen. Stat. § 54C-78. Civil penalties; directors, officers, and employees
(a) A person, whether a director, officer, or employee, who is found to have violated this Article, whether willfully or as a result of...
N.C. Gen. Stat. § 54C-79. Criminal penalties
(a) This section shall in no event extend to persons who are found to have acted only with gross negligence, simple negligence, recklessness, or...
N.C. Gen. Stat. § 54C-80. Primary jurisdiction
Whenever an agency of the United States government defers to the Commissioner of Banks, or notifies the Commissioner of Banks of pending action against...
N.C. Gen. Stat. § 54C-81. Supervisory control
(a) Whenever the Commissioner of Banks determines that a savings bank is conducting its business in an unsafe or unsound manner or in any...
N.C. Gen. Stat. § 54C-82. Removal of directors, officers, and employees
(a) If, in the Commissioner of Banks' opinion, one or more directors, officers, or employees of a savings bank has participated in or consented...
N.C. Gen. Stat. § 54C-83. Involuntary liquidation
(a) The Commissioner of Banks, with prior approval of the Commission, may take custody of the books, records, and assets of every kind and...
N.C. Gen. Stat. § 54C-84. Judicial review
A person or State savings bank against whom a cease and desist order is issued or a fine is imposed may have the order...
N.C. Gen. Stat. § 54C-85. Indemnity
No person who is fined or penalized for a violation of any criminal provision of this Article shall be reimbursed or indemnified in any...
N.C. Gen. Stat. § 54C-86. Cumulative penalties
All penalties, fines, and remedies provided by this Article are cumulative. (1991, c. 680, s. 1.)
N.C. Gen. Stat. § 54C-87. Emergency limitations
The Commissioner of Banks, with the approval of the Governor, may impose a limitation upon the amounts withdrawable or payable from deposit accounts of...
N.C. Gen. Stat. § 54C-88 through 54C-99. Reserved for future codification purposes

Article 6 - Corporate Administration.

N.C. Gen. Stat. § 54C-100. Membership of a mutual association
The membership of a mutual State savings bank shall consist of: (1) Those who hold deposit accounts in a savings bank, and (2) Those...
N.C. Gen. Stat. § 54C-101. Directors
(a) The directors of a mutual savings bank shall be elected by the members at an annual meeting, held under G.S. 54C-106, for any...
N.C. Gen. Stat. § 54C-102. Bylaws
The bylaws and any amendments shall be certified by the appropriate corporate official and submitted to the Commissioner of Banks for approval before they...
N.C. Gen. Stat. § 54C-103. Duties and liabilities of officers and directors to their associations
Officers and directors of a State savings bank shall act in a fiduciary capacity towards the savings bank and its members or stockholders. They...
N.C. Gen. Stat. § 54C-104. Conflicts of interest
Each director, officer, and employee of a State savings bank has a fundamental duty to avoid placing himself in a position which creates, or...
N.C. Gen. Stat. § 54C-105. Voting rights
Voting rights in the affairs of a State savings bank may be exercised by members and stockholders by voting either in person or by...
N.C. Gen. Stat. § 54C-106. Annual meetings notice required
(a) A savings bank shall hold an annual meeting of its members or stockholders. The annual meeting shall be held at a time and...
N.C. Gen. Stat. § 54C-107. Special meetings; notice required
(a) Special meetings of members or stockholders of a savings bank may be called by the president or the board of directors or by...
N.C. Gen. Stat. § 54C-108. Quorum
Unless otherwise provided in the savings bank's charter or bylaws, 50 holders of deposit accounts in a mutual savings bank or 50 stockholders or...
N.C. Gen. Stat. § 54C-109. Bonding
(a) A savings bank shall maintain a blanket indemnity bond of at least a minimum amount as prescribed by the Commissioner of Banks. (b)...
N.C. Gen. Stat. § 54C-110 through 54C-120. Reserved for future codification purposes

Article 7 - Loans and Investments.

N.C. Gen. Stat. § 54C-121. Loans
(a) A savings bank may loan funds as follows: (1) On the security of deposit accounts, but no loan shall exceed the withdrawal value...
N.C. Gen. Stat. § 54C-122. Lending procedures
(a) The board of directors shall establish procedures by which loans are to be considered, approved, and made by the savings bank. (b) All...
N.C. Gen. Stat. § 54C-123. Prohibited security
No savings bank may accept its own capital stock or its own mutual capital certificates as security for any loan made by the savings...
N.C. Gen. Stat. § 54C-124. Loans conditioned on certain transactions prohibited
(a) No savings bank or service corporation thereof shall require, as a condition of making a loan, that the borrower contract with any specific...
N.C. Gen. Stat. § 54C-125. Loan expenses and fees
(a) Subject to Chapter 24 of the General Statutes, a savings bank may require borrowers to pay all reasonable expenses incurred by the savings...
N.C. Gen. Stat. § 54C-126. Methods of loan repayment
Subject to any rules as the Commissioner of Banks may prescribe, a savings bank shall agree in writing with borrowers as to the method...
N.C. Gen. Stat. § 54C-127. Insider loans
The Commissioner of Banks may adopt rules no less stringent than the requirements of the appropriate federal regulatory authority to govern the making of...
N.C. Gen. Stat. § 54C-128. Rulemaking power of Commissioner of Banks
Any rule that the Commissioner of Banks may adopt in respect to loans permitted to be made by State savings banks as may be...
N.C. Gen. Stat. § 54C-129. Nonconforming loans and investments
Unless otherwise provided, every loan or other investment made in violation of this Chapter is due and payable according to its terms and the...
N.C. Gen. Stat. § 54C-130. Limitation on loans to one borrower
(a) The total loans and extensions of credit, both direct and indirect, by a savings bank to any person, other than a municipal corporation...
N.C. Gen. Stat. § 54C-131. Investment in banking premises
A savings bank may invest in real property and equipment and in leasehold improvements to rented facilities necessary for the conduct of its business...
N.C. Gen. Stat. § 54C-132. United States obligations
A savings bank may invest in any obligation issued and fully guaranteed in principal and interest by the United States government or any instrumentality...
N.C. Gen. Stat. § 54C-133. North Carolina obligations
A savings bank may invest in any obligation issued and fully guaranteed in principal and interest by the State or any instrumentality of the...
N.C. Gen. Stat. § 54C-134. Federal Home Loan Bank obligations
A savings bank may invest in the stock of the Federal Home Loan Bank of which the association is a member, and in bonds...
N.C. Gen. Stat. § 54C-135. Deposits in depository institutions
A savings bank may invest in certificates of deposit, time-insured deposits, savings accounts, demand deposits, or withdrawable accounts of any banks, associations, or savings...
N.C. Gen. Stat. § 54C-136. Federal government-sponsored enterprise obligations
A savings bank may invest in stock or other evidences of indebtedness or obligations of Fannie Mae, the Federal Home Loan Mortgage Corporation, or...
N.C. Gen. Stat. § 54C-137. Municipal and county obligations
A savings bank may invest in bonds or other evidences of indebtedness that are direct general obligations of any county, city, town, village, school...
N.C. Gen. Stat. § 54C-138. Stock in education agency
A savings bank may invest in stock or obligations of any corporation doing business in this State, or of any agency of this State...
N.C. Gen. Stat. § 54C-139. Industrial development corporation stock
A savings bank may invest in stock or other evidence of indebtedness or obligations of business or industrial development corporations chartered by this State...
N.C. Gen. Stat. § 54C-140. Urban renewal investment corporation stock
A savings bank may invest in stock or other evidence of indebtedness or obligations of an urban renewal investment corporation chartered under the laws...
N.C. Gen. Stat. § 54C-141. Limitations on investment in stocks and securities
(a) No savings bank shall make an investment in the capital stock of any other State or federal depository institution that represents more than...
N.C. Gen. Stat. § 54C-142. Suspension of investment and loan limitation
The board of directors of any savings bank may, by resolution duly passed at a meeting of the board, request the Commissioner of Banks...
N.C. Gen. Stat. § 54C-143. Commercial lending
A savings bank may lend and invest in commercial loans in an aggregate amount that either (i) does not exceed fifteen percent (15%) of...
N.C. Gen. Stat. § 54C-144. Service corporations
(a) A savings bank or group of savings banks or associations may establish service corporations under Chapter 55 of the General Statutes, provided that...
N.C. Gen. Stat. § 54C-145. Parity in loans or investments
Subject to any limitations and restrictions as the Commissioner of Banks may prescribe through rules, a savings bank may make any loan or investment,...
N.C. Gen. Stat. § 54C-146. Certain powers granted to State savings banks
(a) In addition to the powers granted under this Chapter, but subject to any rules that the Commissioner of Banks may prescribe, a savings...
N.C. Gen. Stat. § 54C-147 through 54C-160. Reserved for future codification purposes

Article 8 - Operations.

N.C. Gen. Stat. § 54C-161. Generally accepted accounting principles
A savings bank shall maintain its books and records in accordance with generally accepted accounting principles. (1991, c. 680, s. 1.)
N.C. Gen. Stat. § 54C-162. Liquidity
A savings bank shall maintain cash and readily marketable investments in an amount that may be established in the rules of the Commissioner of...
N.C. Gen. Stat. § 54C-163. Net worth requirement
A savings bank shall maintain net worth in an amount that may be established in the rules of the Commissioner of Banks, but the...
N.C. Gen. Stat. § 54C-164. Deposit accounts
(a) A savings bank may raise capital through the solicitation of deposits from any person, natural or corporate, except as restricted or limited by...
N.C. Gen. Stat. § 54C-165. Joint accounts
(a) Any two or more persons may open or hold a withdrawable account or accounts. The withdrawable account and any balance of the account...
N.C. Gen. Stat. § 54C-166. Repealed by Session Laws 2011-236, s. 3, effective October 1, 2011
N.C. Gen. Stat. § 54C-166.1. Payable on Death (POD) accounts
(a) If any natural person or natural persons establishing a deposit account shall execute a written agreement with the savings bank containing a statement...
N.C. Gen. Stat. § 54C-167. Personal agency accounts
(a) A person may open a personal agency account by written contract containing a statement that it is executed under this section. A personal...
N.C. Gen. Stat. § 54C-168. Collection of processing fee for returned checks
Notwithstanding any other law, a savings bank may charge and collect a processing fee for checks on which payment has been refused by the...
N.C. Gen. Stat. § 54C-169. Right of setoff on deposit accounts
(a) A savings bank shall have a right of setoff, without further agreement or pledge, upon all deposit accounts owned by any member or...
N.C. Gen. Stat. § 54C-170. Minors as deposit account holders
(a) A savings bank may issue a deposit account to a minor as the sole and absolute owner, or as a joint owner, and...
N.C. Gen. Stat. § 54C-171. Deposit accounts as deposit of securities
Notwithstanding any restrictions or limitations contained in any law of this State, the deposit accounts of any State savings bank may be accepted by...
N.C. Gen. Stat. § 54C-172. New account books
A new account book or certificate or other evidence of ownership of a deposit account may be issued in the name of the holder...
N.C. Gen. Stat. § 54C-173. Transfer of deposit accounts
The owner of a deposit account may transfer the owner's rights therein absolutely or conditionally to any other person eligible to hold the same,...
N.C. Gen. Stat. § 54C-174. Authority of power of attorney
A savings bank may continue to recognize the authority of an individual holding a power of attorney in writing to manage or to make...
N.C. Gen. Stat. § 54C-175. Days and hours of operation
A savings bank may operate on such days and during such hours, and may observe such holidays, as the savings bank's board of directors...
N.C. Gen. Stat. § 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...
N.C. Gen. Stat. § 54C-177. Authority to join federal reserve bank
A State savings bank may subscribe to the capital stock and become a member of a federal reserve bank. A savings bank shall continue...
N.C. Gen. Stat. § 54C-178. Regional reciprocal acquisitions
State savings banks and holding companies thereof shall have the same powers to acquire and be acquired as State associations and their savings and...
N.C. Gen. Stat. § 54C-179. Forced retirement of deposit accounts
(a) A savings bank may, at any time that funds are on hand and available for this purpose, force the retirement of and redeem...
N.C. Gen. Stat. § 54C-180 through 54C-194. Reserved for future codification purposes

Article 9 - Holding Companies.

N.C. Gen. Stat. § 54C-195. Holding companies
(a) Notwithstanding any other law, a stock savings bank may, simultaneously with its incorporation or conversion to a stock savings bank, provide for its...
N.C. Gen. Stat. § 54C-196. Supervision of holding companies
Holding companies are under the supervision of the Commissioner of Banks. The Commissioner of Banks shall exercise all powers and responsibilities with respect to...
N.C. Gen. Stat. § 54C-197. Reserved for future codification purposes
N.C. Gen. Stat. § 54C-198. Reserved for future codification purposes

Article 10 - Savings Bank Interstate Branches.

N.C. Gen. Stat. § 54C-199. Title
This Article shall be known and may be cited as the North Carolina Savings Bank Interstate Branch Act. (1993, c. 191, s. 3.)
N.C. Gen. Stat. § 54C-200. Definitions
As used in this Article, unless the context clearly requires otherwise, the following definitions apply: (1) Repealed by Session Laws 2004-203, s. 35(b), effective...
N.C. Gen. Stat. § 54C-201. Establishment of branches by out-of-state savings banks
Any out-of-state savings bank that meets the requirements of this Article may establish a branch within North Carolina either by (i) de novo entry;...
N.C. Gen. Stat. § 54C-202. Application requirements
(a) Any out-of-state savings bank desiring to establish a branch office under this Article shall file with the Commissioner of Banks a written application...
N.C. Gen. Stat. § 54C-203. Conditions for approval
No application by an out-of-state savings bank received under this Article may be finally approved by the Commissioner of Banks unless: (1) The Commissioner...
N.C. Gen. Stat. § 54C-204. Special conditions
(a) The Commissioner of Banks may require an out-of-state savings bank to designate one of its branches in North Carolina as a "headquarters branch"...
N.C. Gen. Stat. § 54C-205. Powers
An out-of-state savings bank that establishes a branch in North Carolina may engage in all the activities authorized by North Carolina law for a...
N.C. Gen. Stat. § 54C-206. Establishment of out-of-state branches by State savings banks
With the prior consent of the Commissioner of Banks, any savings bank chartered under the laws of North Carolina may establish a branch in...
N.C. Gen. Stat. § 54C-207. Regulatory and supervisory oversight
(a) The Commissioner of Banks may enter into such agreements as necessary regarding the scope, timing, coordination, and frequency of examinations and other supervisory...
N.C. Gen. Stat. § 54C-208. Enforcement
(a) Any enforcement authority available to the Commissioner of Banks for use against a State savings bank may, subject to the provisions of Chapter...
N.C. Gen. Stat. § 54C-209. Branch closings
An out-of-state savings 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. § 54C-210. Rules
The Commission may adopt rules as necessary to carry out the provisions of this Article. (1993, c. 191, s. 3.)
N.C. Gen. Stat. § 54C-211. Appeal of Commissioner of Banks' decision
Any aggrieved party in a proceeding under this Article may, within 30 days after final decision of the Commissioner of Banks, appeal such decision...
N.C. Gen. Stat. § 54C-212. Severability
If any provision of this Article or the application of such provision to any persons or circumstances is found invalid, the remainder of this...

Last modified: March 23, 2014