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 of directors may, by resolution adopted by a vote of at least two-thirds of the entire board duly recorded in the minutes, authorize the officers of the savings bank to borrow money for the savings bank on any terms and conditions as the board may deem proper. (1991, c. 680, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
§ 54C-161 - Generally accepted accounting principles.
§ 54C-163 - Net worth requirement.
§ 54C-166.1 - Payable on Death (POD) accounts.
§ 54C-167 - Personal agency accounts.
§ 54C-168 - Collection of processing fee for returned checks.
§ 54C-169 - Right of setoff on deposit accounts.
§ 54C-170 - Minors as deposit account holders.
§ 54C-171 - Deposit accounts as deposit of securities.
§ 54C-172 - New account books.
§ 54C-173 - Transfer of deposit accounts.
§ 54C-174 - Authority of power of attorney.
§ 54C-175 - Days and hours of operation.
§ 54C-176 - Power to borrow money.
§ 54C-177 - Authority to join federal reserve bank.
§ 54C-178 - Regional reciprocal acquisitions.