54C-56. Prolonged audit, examination, or revaluation; payment of costs.
(a) If, in the opinion of the Commissioner of Banks, an examination conducted under G.S. 54C-55 fails to disclose the complete financial condition of a savings bank, the Commissioner of Banks may in order to ascertain its complete financial condition:
(1) Make an extended audit or examination of the savings bank or cause an audit or examination to be made by an independent auditor; and
(2) Make an extended revaluation of any of the assets or liabilities of the savings bank or cause an independent appraiser to make a revaluation.
(b) The Commissioner of Banks shall collect from the savings bank a reasonable sum for actual or necessary expenses of an audit, examination, or revaluation. (1991, c. 680, s. 1; 2001-193, s. 16.)
Structure North Carolina General Statutes
North Carolina General Statutes
§ 54C-53 - Power of Commissioner of Banks to adopt rules and definitions; reproduction of records.
§ 54C-54 - Examinations by Commissioner of Banks; report.
§ 54C-55 - Supervision and examination fees authorized; use of funds collected under Chapter.
§ 54C-56 - Prolonged audit, examination, or revaluation; payment of costs.
§ 54C-58 - Test appraisals of collateral for loans; expense paid.
§ 54C-59 - Relationship of savings banks with the Savings Institutions Division.
§ 54C-60 - Confidential information.
§ 54C-60.1 - Confidential records.
§ 54C-61 - Annual license fees.
§ 54C-62 - Statement filed by savings bank; fees and examination.