54B-44. Supervisory mergers, consolidations, conversions, and combination mergers and conversions.
(a) Notwithstanding any other provision of this Chapter, in order to protect the public, including members, depositors and stockholders of a State association, the Commissioner of Banks, upon making a finding that a State association is unable to operate in a safe and sound manner, may authorize or require a short form merger, consolidation, conversion, or combination merger and conversion of the State association, or any other transaction, as to which the finding is made.
(b) The Commissioner of Banks shall promulgate rules and regulations to govern supervisory mergers, consolidations, conversions, and combination mergers and conversions authorized by this section. (1981, c. 670, s. 2; 1981 (Reg. Sess., 1982), c. 1238, s. 11; 1985, c. 659, s. 18; 1985 (Reg. Sess., 1986), c. 948, s. 2; 2001-193, s. 16.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 54B - Savings and Loan Associations
Article 3 - Fundamental Changes.
§ 54B-30 - Conversion from State to federal association.
§ 54B-31 - Conversion from federal to State association.
§ 54B-32 - Simultaneous charter and ownership conversion.
§ 54B-33 - Conversion of mutual to stock association.
§ 54B-34 - Conversion of stock associations to mutual associations.
§ 54B-34.1 - Conversion to State association.
§ 54B-34.2 - Conversion to bank.
§ 54B-35 - Merger of like savings and loan associations.
§ 54B-36 - Merger of associations where ownership is converted.
§ 54B-37 - Merger of mutual and stock associations.
§ 54B-37.1 - Simultaneous conversion/merger.
§ 54B-39 - Merger of federal with State associations.
§ 54B-40 - Voluntary dissolution by directors.
§ 54B-41 - Voluntary dissolution by stockholders or members.
§ 54B-42 - Rules, regulations and reports of voluntary dissolution.
§ 54B-45 - Interim associations.