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 to suspend temporarily the limitations on loans and investments as they may apply to any particular loan or investment in excess of the limitations of G.S. 54C-130 and G.S. 54C-141 that the savings bank desires to make. Upon receipt of a duly certified copy of the resolution, the Commissioner of Banks may suspend the limitations on loans and investments insofar as they would apply to the loan or investment that the savings bank desires to make, as long as every loan or investment is amply secured and is for a period not longer than 36 months. (1991, c. 680, s. 1; 2001-193, s. 16.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 7 - Loans and Investments.
§ 54C-122 - Lending procedures.
§ 54C-123 - Prohibited security.
§ 54C-124 - Loans conditioned on certain transactions prohibited.
§ 54C-125 - Loan expenses and fees.
§ 54C-126 - Methods of loan repayment.
§ 54C-128 - Rulemaking power of Commissioner of Banks.
§ 54C-129 - Nonconforming loans and investments.
§ 54C-130 - Limitation on loans to one borrower.
§ 54C-131 - Investment in banking premises.
§ 54C-132 - United States obligations.
§ 54C-133 - North Carolina obligations.
§ 54C-134 - Federal Home Loan Bank obligations.
§ 54C-135 - Deposits in depository institutions.
§ 54C-136 - Federal government-sponsored enterprise obligations.
§ 54C-137 - Municipal and county obligations.
§ 54C-138 - Stock in education agency.
§ 54C-139 - Industrial development corporation stock.
§ 54C-140 - Urban renewal investment corporation stock.
§ 54C-141 - Limitations on investment in stocks and securities.
§ 54C-142 - Suspension of investment and loan limitation.
§ 54C-143 - Commercial lending.
§ 54C-144 - Service corporations.