53C-9-102. Distributions; assignments restricted.
A bank that is in the process of involuntary or voluntary dissolution pursuant to this Article may not make or pay distributions to its shareholders unless the bank has the prior written approval of the Commissioner. No bank shall make any general assignment for the benefit of its creditors except by surrendering possession of its assets to the Commissioner for dissolution and liquidation pursuant to G.S. 53-9-301, and any other purported assignment by the bank for the benefit of its creditors shall be void. (2012-56, s. 4.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 53C - Regulation of Banks
Article 9 - Supervisory Liquidation; Voluntary Dissolution and Liquidation.
§ 53C-9-101 - Supervisory combinations.
§ 53C-9-102 - Distributions; assignments restricted.
§ 53C-9-103 - Cancellation of charter.
§ 53C-9-201 - Voluntary dissolution prior to receipt of charter.
§ 53C-9-202 - Voluntary dissolution.
§ 53C-9-203 - Voluntary dissolution and liquidation procedure.
§ 53C-9-401 - Article relating to receivers applicable to insolvent banks.
§ 53C-9-402 - Storage and destruction of records.
§ 53C-9-403 - Authority to serve as trustee terminated.
§ 53C-9-404 - Petition for new trustee; upon parties interested.
§ 53C-9-405 - Appointment of substitute trustee where no objection made.
§ 53C-9-406 - Hearing where objection made; appeal from order.
§ 53C-9-407 - Registration of final order.
§ 53C-9-408 - Petition and order applicable to all instruments involved.