54C-58. Test appraisals of collateral for loans; expense paid.
(a) The Commissioner of Banks may direct the making of test appraisals of real estate and other collateral securing loans made by savings banks doing business in this State, employ competent appraisers, or prescribe a list from which competent appraisers may be selected, for the making of these appraisals by the Commissioner of Banks, and any and all other acts incident to the making of test appraisals.
(b) In lieu of causing an appraisal to be made, the Commissioner of Banks may accept an appraisal caused to be made by the insurer of accounts.
(c) The expense and cost of test appraisals made under this section shall be defrayed by the savings bank subjected to the test appraisals, and each savings bank doing business in this State shall pay all reasonable costs and expenses of the test appraisals when it is directed. (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.