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 of the State. For such license the licensee, for the purpose of defraying necessary expenses of the Commissioner of Banks and the Commissioner's agents, shall pay to the Commissioner of Banks an annual license fee of five hundred dollars ($500.00). (1945, c. 743, s. 1; 1967, c. 789, s. 20; 2001-263, s. 3; 2004-171, s. 5; 2011-339, s. 7.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 53 - Regulation of Financial Services
Article 14 - Trust Institutions Acting in a Fiduciary Capacity.
§ 53-159 - Trust institution may act as fiduciary.
§ 53-159.1 - Power of fiduciary or custodian to deposit securities in a clearing corporation.
§ 53-160 - License to do business.
§ 53-161 - Examination in connection with license as to solvency.
§ 53-163 - Clerk of superior court notified of license and revocation.
§ 53-163.1 - Funds held by a trust institution awaiting investment or distribution.
§ 53-163.2 - Investments in securities by trust institutions.
§ 53-163.3 - Fiduciary funds awaiting investment.
§ 53-163.5 - Establishment of common trust funds.
§ 53-163.6 - Court accountings.
§ 53-163.7 - Supervision by State Banking Commission.