54C-20. Licensing.
A newly chartered savings bank is entitled to a license to operate upon payment to the Division of the appropriate license fee as prescribed by the Commissioner of Banks, when it shows to the satisfaction of the Commissioner of Banks evidence of capable, efficient, and equitable management, that the organization of the savings bank has been conducted lawfully and is complete, and when it passes a final inspection by the Commissioner of Banks or the Commissioner of Banks' representative preceding the opening of its doors for business. (1991, c. 680, s. 1; 2001-193, s. 16.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 2 - Incorporation and Organization.
§ 54C-7 - Application of Chapter on business corporations.
§ 54C-8 - Scope and prohibitions; existing charters; injunctions.
§ 54C-9 - Application to organize a savings bank.
§ 54C-10 - Certificate of incorporation.
§ 54C-11 - Commissioner of Banks to consider application.
§ 54C-13 - Commission to review findings and recommendations of Commissioner of Banks.
§ 54C-14 - Grounds for approval or denial of application.
§ 54C-17 - Insurance of accounts required.
§ 54C-19 - Time allowed to commence business.
§ 54C-21 - Amendments to certificate of incorporation.
§ 54C-22 - List of stockholders to be maintained.
§ 54C-24 - Request to change location of a branch or principal office.
§ 54C-25 - Approval revoked; branch office.