North Carolina General Statutes
Chapter 53 - Regulation of Financial Services

§ 53-159.1 - Power of fiduciary or custodian to deposit securities in a clearing corporation. - 53-159.1. Power of fiduciary or custodian to deposit securities in...

§ 53-160 - License to do business. - 53-160. License to do business. Before any such trust institution...

§ 53-161 - Examination in connection with license as to solvency. - 53-161. Examination in connection with license as to solvency. The...

§ 53-163 - Clerk of superior court notified of license and revocation. - 53-163. Clerk of superior court notified of license and revocation....

§ 53-163.1 - Funds held by a trust institution awaiting investment or distribution. - 53-163.1. Funds held by a trust institution awaiting investment or...

§ 53-163.2 - Investments in securities by trust institutions. - 53-163.2. Investments in securities by trust institutions. Unless the governing...

§ 53-163.3 - Fiduciary funds awaiting investment. - 53-163.3. Fiduciary funds awaiting investment. A bank that is a...

§ 53-163.5 - Establishment of common trust funds. - 53-163.5. Establishment of common trust funds. (a) Any trust institution...

§ 53-163.6 - Court accountings. - 53-163.6. Court accountings. Unless ordered by a court of competent...

§ 53-163.7 - Supervision by State Banking Commission. - 53-163.7. Supervision by State Banking Commission. All common trust funds...

§ 53-163.8 - Uniformity of interpretation. - 53-163.8. Uniformity of interpretation. This Part shall be so interpreted...

§ 53-163.9 - Short title. - 53-163.9. Short title. This Part may be cited as the...

Article 15 - North Carolina Consumer Finance Act.

§ 53-164 - Title. - 53-164. Title. This Article shall be known and may be...

§ 53-165 - Definitions. - 53-165. Definitions. (a) "Amount of the loan" shall mean the...

§ 53-166 - Scope of Article; evasions; penalties; loans in violation of Article void. - 53-166. Scope of Article; evasions; penalties; loans in violation of...

§ 53-167 - Expenses of supervision. - 53-167. Expenses of supervision. For the purpose of defraying necessary...

§ 53-168 - License required; showing of convenience, advantage and financial responsibility; investigation of applicants; hearings; existing businesses; contents of license; transfer; posting. - 53-168. License required; showing of convenience, advantage and financial responsibility;...

§ 53-169 - Application for license. - 53-169. Application for license. The application for license shall be...

§ 53-170 - Locations; change of ownership or management. - 53-170. Locations; change of ownership or management. (a) Business Location....

§ 53-171 - Revocation, suspension or surrender of license. - 53-171. Revocation, suspension or surrender of license. (a) If the...

§ 53-172 - Conduct of other business in same office. - 53-172. Conduct of other business in same office. (a) No...

§ 53-173 - Computation of interest; application of payments; limitation on interest after judgment; limitation on interest after maturity of the loan. - 53-173. Computation of interest; application of payments; limitation on interest...

§ 53-175 - Fee for returned checks. - 53-175. Fee for returned checks. A licensee may collect the...

§ 53-176 - Rates, maturities and amounts. - 53-176. Rates, maturities and amounts. (a) A licensee may make...

§ 53-177 - Fees. - 53-177. Fees. (a) Recording Fees. - The licensee may collect...

§ 53-177.1 - Electronic transaction fees. - 53-177.1. Electronic transaction fees. (a) The following definitions apply in...

§ 53-178 - No further charges; no splitting contracts; certain contracts void. - 53-178. No further charges; no splitting contracts; certain contracts void....

§ 53-180 - Limitations and prohibitions on practices and agreements. - 53-180. Limitations and prohibitions on practices and agreements. (a) Time...

§ 53-180.1 - Military service members limitation. - 53-180.1. Military service members limitation. (a) Definition. - For purposes...

§ 53-181 - Statements and information to be furnished to borrowers; power of attorney or confession of judgment prohibited. - 53-181. Statements and information to be furnished to borrowers; power...

§ 53-182 - Payment of loans; receipts. - 53-182. Payment of loans; receipts. (a) After each payment made...

§ 53-183 - Advertising, broadcasting, etc., false or misleading statements. - 53-183. Advertising, broadcasting, etc., false or misleading statements. No licensee...

§ 53-184 - Securing of information; records and reports; allocations of expense. - 53-184. Securing of information; records and reports; allocations of expense....

§ 53-185 - Rules and regulations by Banking Commission and Commissioner. - 53-185. Rules and regulations by Banking Commission and Commissioner. The...

§ 53-186 - Commissioner to issue subpoenas, conduct hearings, give publicity to investigations, etc. - 53-186. Commissioner to issue subpoenas, conduct hearings, give publicity to...

§ 53-187 - Injunctive powers; receivers. - 53-187. Injunctive powers; receivers. Whenever the Commissioner has reasonable cause...

§ 53-188 - Review of regulations, order or act of Commission or Commissioner. - 53-188. Review of regulations, order or act of Commission or...

§ 53-189 - Insurance. - 53-189. Insurance. (a) Credit life, credit accident and health, credit...

§ 53-190 - Loans made elsewhere. - 53-190. Loans made elsewhere. (a) No loan contract made outside...

§ 53-191 - Businesses exempted. - 53-191. Businesses exempted. Nothing in this Article shall be construed...

Article 16B - Money Transmitters Act.

§ 53-208.41 - Title. - 53-208.41. Title. This act may be cited as the "North...

§ 53-208.42 - Definitions. - 53-208.42. Definitions. For purposes of this Article, the following definitions...

§ 53-208.43 - License requirement. - 53-208.43. License requirement. (a) No person except those exempt pursuant...

§ 53-208.44 - Exemptions. - 53-208.44. Exemptions. (a) This Article shall not apply to any...

§ 53-208.45 - License application. - 53-208.45. License application. (a) Applications under this Article shall be...

§ 53-208.46 - Minimum net worth. - 53-208.46. Minimum net worth. (a) An applicant shall possess and...

§ 53-208.47 - Surety bond. - 53-208.47. Surety bond. (a) Applicants shall be required to post...

§ 53-208.48 - Permissible investments and statutory trust. - 53-208.48. Permissible investments and statutory trust. (a) Except as otherwise...

§ 53-208.49 - Application fees and annual assessment. - 53-208.49. Application fees and annual assessment. (a) Application Fees. Each...

§ 53-208.50 - Issuance of license. - 53-208.50. Issuance of license. (a) Upon receipt of a complete...

§ 53-208.51 - Prohibited practices. - 53-208.51. Prohibited practices. No person required to be licensed under...

§ 53-208.52 - Maintenance of records. - 53-208.52. Maintenance of records. (a) Each licensee shall maintain such...

§ 53-208.53 - Reporting. - 53-208.53. Reporting. (a) Annual Report. No later than 90 days...

§ 53-208.54 - Notice of Material Event. - 53-208.54. Notice of Material Event. (a) Within 15 days of...

§ 53-208.55 - Examination and investigation authority. - 53-208.55. Examination and investigation authority. (a) For purposes of initial...

§ 53-208.56 - Licensure authority. - 53-208.56. Licensure authority. The Commissioner may by order, deny, suspend,...

§ 53-208.57 - Disciplinary authority. - 53-208.57. Disciplinary authority. (a) Unless otherwise provided, all administrative actions...

§ 53-208.58 - Criminal penalties. - 53-208.58. Criminal penalties. (a) Any person who knowingly and willfully...

§ 53-208.59 - Confidentiality. - 53-208.59. Confidentiality. (a) Notwithstanding any other provision of law, all...

§ 53-208.60 - Rules. - 53-208.60. Rules. (a) The State Banking Commission may adopt rules...

§ 53-208.61 - Service of process. - 53-208.61. Service of process. (a) Any person subject to this...

§ 53-208.62 - Commissioner's participation in nationwide registry. - 53-208.62. Commissioner's participation in nationwide registry. (a) The Commissioner may...

§ 53-208.63 - Severability. - 53-208.63. Severability. Should any provision, sentence, clause, section, or part...

§ 53-208.64 - Transition. - 53-208.64. Transition. Any person who holds in good standing a...

Article 17 - North Carolina Reciprocal Interstate Banking Act.

§ 53-209 - Title. - 53-209. Title. This Article shall be known and may be...

§ 53-210 - Definitions. - 53-210. Definitions. Notwithstanding any other section of this Chapter, for...

§ 53-211 - Acquisitions by out-of-state bank holding companies. - 53-211. Acquisitions by out-of-state bank holding companies. (a) An out-of-state...

§ 53-212.1 - Bank agent for deposit institution affiliate. - 53-212.1. Bank agent for deposit institution affiliate. A bank may...

§ 53-213 - Prohibitions. - 53-213. Prohibitions. (a) Except as expressly permitted by this Article...

§ 53-214 - Applicable laws, rules and regulations. - 53-214. Applicable laws, rules and regulations. (a) Any North Carolina...

§ 53-215 - Appeal of Commissioner's decision. - 53-215. Appeal of Commissioner's decision. Any aggrieved party in a...

§ 53-216 - Periodic reports; interstate agreements. - 53-216. Periodic reports; interstate agreements. The Commissioner may from time...

§ 53-217 - Enforcement. - 53-217. Enforcement. The Commissioner shall have the power to enforce...

§ 53-218 - Nonseverability. - 53-218. Nonseverability. It is the purpose of this Article 17...

Article 17B - Interstate Branch Banking.

§ 53-224.9 - Definitions. - 53-224.9. Definitions. The following definitions apply in this Article: (1)...

§ 53-224.10 - Purpose. - 53-224.10. Purpose. It is the express intent of this Part...

§ 53-224.11 - Interstate branching by North Carolina State banks. - 53-224.11. Interstate branching by North Carolina State banks. (a) With...

§ 53-224.12 - Interstate branching by de novo entry. - 53-224.12. Interstate branching by de novo entry. An out-of-state bank...

§ 53-224.13 - Interstate branching through the acquisition of a branch. - 53-224.13. Interstate branching through the acquisition of a branch. An...

§ 53-224.14 - Requirement of notice and other conditions. - 53-224.14. Requirement of notice and other conditions. (a) An out-of-state...

§ 53-224.15 - Conditions for approval. - 53-224.15. Conditions for approval. In the case of notice under...

§ 53-224.16 - Powers. - 53-224.16. Powers. (a) An out-of-state state bank which establishes and...

§ 53-224.17 - Purpose. - 53-224.17. Purpose. It is the express intent of this Part...

§ 53-224.18 - Authority of State banks to establish interstate branches by merger. - 53-224.18. Authority of State banks to establish interstate branches by...

§ 53-224.19 - Interstate merger transactions and branching permitted. - 53-224.19. Interstate merger transactions and branching permitted. One or more...

§ 53-224.20 - Notice and filing requirements. - 53-224.20. Notice and filing requirements. Any out-of-state bank that will...

§ 53-224.21 - Conditions for interstate merger prior to June 1, 1997. - 53-224.21. Conditions for interstate merger prior to June 1, 1997....

§ 53-224.22 - Powers. - 53-224.22. Powers. (a) An out-of-state state bank which establishes and...

§ 53-224.23 - Applicability of supervisory authority. - 53-224.23. Applicability of supervisory authority. The supervisory powers and other...

§ 53-224.24 - Examinations; periodic reports; cooperative agreements; assessment of fees. - 53-224.24. Examinations; periodic reports; cooperative agreements; assessment of fees. (a)...

§ 53-224.25 - Enforcement. - 53-224.25. Enforcement. If the Commissioner determines that a branch maintained...

§ 53-224.26 - Rules. - 53-224.26. Rules. The Commissioner, subject to review and approval of...

§ 53-224.27 - Additional branches. - 53-224.27. Additional branches. An out-of-state bank that has a branch...

§ 53-224.28 - Notice of subsequent merger or other change in control. - 53-224.28. Notice of subsequent merger or other change in control....

§ 53-224.29 - Branch closings. - 53-224.29. Branch closings. An out-of-state state bank that is subject...

§ 53-224.30 - Appeal of Commissioner's decision. - 53-224.30. Appeal of Commissioner's decision. Any aggrieved party in a...

§ 53-224.31 - Severability. - 53-224.31. Severability. If any provision of this Article or the...

Article 18 - Bank Holding Company Act of 1984.

§ 53-232 - Recodified as G.S53C-10-303 by Session Laws 2017-165, s11, effective July 21, 2017. - 53-232: Recodified as G.S. 53C-10-303 by Session Laws 2017-165, s....

Article 18A - North Carolina International Banking Act.

§ 53-232.1 - Title and scope. - 53-232.1. Title and scope. (a) This act shall be known...

§ 53-232.2 - Definitions. - 53-232.2. Definitions. (a) The following definitions apply in this Article:...

§ 53-232.3 - Authority to establish and operate federal international bank institutions, international bank branches, international bank agencies, and international representative offices. - 53-232.3. Authority to establish and operate federal international bank institutions,...

§ 53-232.4 - Application of this Chapter. - 53-232.4. Application of this Chapter. (a) International banking corporations, other...

§ 53-232.5 - Application of the North Carolina Business Corporation Act. - 53-232.5. Application of the North Carolina Business Corporation Act. Notwithstanding...

§ 53-232.6 - Requirements for carrying on banking business. - 53-232.6. Requirements for carrying on banking business. (a) No international...

§ 53-232.7 - Actions against international banking corporations. - 53-232.7. Actions against international banking corporations. (a) A resident of...

§ 53-232.8 - Application for license. - 53-232.8. Application for license. (a) Every international banking corporation, before...

§ 53-232.9 - Effect, renewal, and revocation of licenses; permissible activities. - 53-232.9. Effect, renewal, and revocation of licenses; permissible activities. (a)...

§ 53-232.10 - Securities, etc., to be held in this State. - 53-232.10. Securities, etc., to be held in this State. (a)...

§ 53-232.11 - Financial certification; restrictions on investments, loans, and acceptances. - 53-232.11. Financial certification; restrictions on investments, loans, and acceptances. (a)...

§ 53-232.12 - Reports. - 53-232.12. Reports. (a) An international banking corporation licensed under this...

§ 53-232.13 - Dissolution. - 53-232.13. Dissolution. (a) When an international banking corporation licensed to...

§ 53-232.14 - International representative offices. - 53-232.14. International representative offices. (a) An international banking corporation that...

§ 53-232.15 - Rules. - 53-232.15. Rules. The Banking Commission may adopt rules necessary to...

§ 53-232.16 - Cease and desist. - 53-232.16. Cease and desist. Upon a finding that any action...

§ 53-232.17 - Appeal of Commissioner's decision. - 53-232.17. Appeal of Commissioner's decision. Any aggrieved party in a...

Article 19B - The Secure and Fair Enforcement Mortgage Licensing Act.

§ 53-244.010 - Title. - 53-244.010. Title. This act may be cited as the "North...

§ 53-244.020 - Purpose and construction. - 53-244.020. Purpose and construction. (a) Purpose. - A primary purpose...

§ 53-244.030 - Definitions. - 53-244.030. Definitions. For purposes of the Article, the following definitions...

§ 53-244.040 - License and registration requirements. - 53-244.040. License and registration requirements. (a) Except as provided in...

§ 53-244.050 - License and registration application; claim of exemption. - 53-244.050. License and registration application; claim of exemption. (a) Applicants...

§ 53-244.060 - Issuance of license or registration. - 53-244.060. Issuance of license or registration. If an applicant satisfies...

§ 53-244.070 - Educational requirements for mortgage loan originators. - 53-244.070. Educational requirements for mortgage loan originators. (a) In order...

§ 53-244.080 - Testing requirements for mortgage loan originators. - 53-244.080. Testing requirements for mortgage loan originators. (a) An individual...

§ 53-244.090 - Application fees. - 53-244.090. Application fees. (a) Every applicant for initial licensure shall...

§ 53-244.100 - Active license or registration requirements and assignability. - 53-244.100. Active license or registration requirements and assignability. (a) It...

§ 53-244.100A - Assessments. - 53-244.100A. Assessments. (a) For the purpose of meeting the cost...

§ 53-244.101 - License and registration renewal. - 53-244.101. License and registration renewal. (a) All licenses and registrations...

§ 53-244.102 - Continuing education for mortgage loan originators. - 53-244.102. Continuing education for mortgage loan originators. (a) A licensed...

§ 53-244.103 - Surety bond requirements. - 53-244.103. Surety bond requirements. (a) Except as provided in subsection...

§ 53-244.104 - Minimum net worth requirements. - 53-244.104. Minimum net worth requirements. (a) A minimum net worth...

§ 53-244.105 - Records, addresses, escrow funds, or trust accounts. - 53-244.105. Records, addresses, escrow funds, or trust accounts. (a) Every...

§ 53-244.106 - Display of license. - 53-244.106. Display of license. Each mortgage broker or mortgage lender...

§ 53-244.107 - Unique identifier shown. - 53-244.107. Unique identifier shown. The unique identifier of any mortgage...

§ 53-244.108 - Reports. - 53-244.108. Reports. Each mortgage lender, mortgage broker, mortgage servicer licensee,...

§ 53-244.109 - Mortgage broker duties. - 53-244.109. Mortgage broker duties. Any mortgage broker engaged in the...

§ 53-244.110 - Mortgage servicer duties. - 53-244.110. Mortgage servicer duties. Any mortgage servicer engaged in the...

§ 53-244.111 - Prohibited acts. - 53-244.111. Prohibited acts. In addition to the activities prohibited under...

§ 53-244.112 - Criminal penalties for unlicensed activity. - 53-244.112. Criminal penalties for unlicensed activity. Engaging in the mortgage...

§ 53-244.113 - Regulatory authority. - 53-244.113. Regulatory authority. (a) Unless otherwise provided, all actions, hearings,...

§ 53-244.114 - Licensure and registration authority. - 53-244.114. Licensure and registration authority. (a) The Commissioner may, by...

§ 53-244.115 - Investigation and examination authority. - 53-244.115. Investigation and examination authority. (a) For purposes of initial...

§ 53-244.116 - Disciplinary authority. - 53-244.116. Disciplinary authority. (a) The Commissioner may, by order: (1)...

§ 53-244.118 - Rule-making authority; records. - 53-244.118. Rule-making authority; records. (a) The Commissioner may adopt any...

§ 53-244.119 - Commissioner's participation in nationwide registry. - 53-244.119. Commissioner's participation in nationwide registry. (a) The Commissioner shall...

§ 53-244.120 - Confidentiality of information. - 53-244.120. Confidentiality of information. (a) Notwithstanding any State law to...

§ 53-244.121 - Review by Banking Commission. - 53-244.121. Review by Banking Commission. The Banking Commission may review...

Article 20 - Refund Anticipation Loan Act.

§ 53-245 - Title and scope. - 53-245. Title and scope. (a) Title. This Article shall be...

§ 53-246 - Definitions. - 53-246. Definitions. The following definitions apply in this Article: (1)...

§ 53-247 - Registration requirement. - 53-247. Registration requirement. (a) Registration Requirement. No person may individually...

§ 53-248 - Registration procedure; informal hearing. - 53-248. Registration procedure; informal hearing. (a) Initial Registration. An application...

§ 53-249 - Filing and posting of loan fees; disclosures. - 53-249. Filing and posting of loan fees; disclosures. (a) Filing...

§ 53-250 - Prohibited activities. - 53-250. Prohibited activities. A facilitator of a refund anticipation loan...

§ 53-251 - Cease and desist; revocation of registration; penalties. - 53-251. Cease and desist; revocation of registration; penalties. (a) Cease...

§ 53-252 - Appeal of Commissioner's decision. - 53-252. Appeal of Commissioner's decision. The Commission may review any...

§ 53-253 - Rules; enforcement. - 53-253. Rules; enforcement. The Banking Commission may adopt reasonable rules...

§ 53-254 - Exemption. - 53-254. Exemption. This Article does not apply to a person...

Article 21 - Reverse Mortgages.

§ 53-255 - Title. - 53-255. Title. This Article shall be known and may be...

§ 53-256 - Purpose. - 53-256. Purpose. It is the intent of the General Assembly...

§ 53-257 - Definitions. - 53-257. Definitions. The following definitions apply in this Article: (1)...

§ 53-258 - Authority and procedures governing reverse mortgage loans. - 53-258. Authority and procedures governing reverse mortgage loans. (a) Except...

§ 53-259 - Application of rules. - 53-259. Application of rules. In addition to the provisions of...

§ 53-260 - Interest. - 53-260. Interest. Notwithstanding any other provisions of law to the...

§ 53-261 - Taxes, insurance, and assessments. - 53-261. Taxes, insurance, and assessments. A reverse mortgage loan contract...

§ 53-262 - Renegotiation of loan; calculation of outstanding balance; prepayment. - 53-262. Renegotiation of loan; calculation of outstanding balance; prepayment. (a)...

§ 53-263 - Limits on borrowers' liability. - 53-263. Limits on borrowers' liability. (a) When a reverse mortgage...

§ 53-264 - Disclosures of loan terms. - 53-264. Disclosures of loan terms. (a) On forms prescribed by...

§ 53-265 - Information required of lender. - 53-265. Information required of lender. (a) At the closing of...

§ 53-266 - Effects of lender's default. - 53-266. Effects of lender's default. (a) A lender's failure to...

§ 53-267 - Repayment upon borrower's default. - 53-267. Repayment upon borrower's default. A reverse mortgage loan contract...

§ 53-268 - Time for initiation of foreclosure. - 53-268. Time for initiation of foreclosure. When a borrower's obligation...

§ 53-269 - Counseling provisions. - 53-269. Counseling provisions. (a) The North Carolina Housing Finance Agency...

§ 53-270 - Prohibited acts. - 53-270. Prohibited acts. Reverse mortgage lenders are prohibited from engaging...

§ 53-270.1 - Contracts for shared appreciation or shared value. - 53-270.1. Contracts for shared appreciation or shared value. (a) A...

§ 53-271 - Commissioner's authority to enforce; penalties. - 53-271. Commissioner's authority to enforce; penalties. (a) The Commissioner shall...

§ 53-272 - Appeals. - 53-272. Appeals. The Banking Commission may review any rule, regulation,...

Article 22 - Check-Cashing Businesses.

§ 53-275 - Definitions. - 53-275. Definitions. As used in this Article, unless the context...

§ 53-276 - License required. - 53-276. License required. No person or other entity may engage...

§ 53-277 - Exemptions. - 53-277. Exemptions. (a) This Article does not apply to any...

§ 53-278 - Application for license; investigation; application fee. - 53-278. Application for license; investigation; application fee. (a) An application...

§ 53-279 - Liquid assets required; other qualifications; denial of license; hearing. - 53-279. Liquid assets required; other qualifications; denial of license; hearing....

§ 53-280 - Maximum fees for service; fees posted; endorsement of checks cashed. - 53-280. Maximum fees for service; fees posted; endorsement of checks...

§ 53-281 - Expired. - 53-281: Expired.

§ 53-282 - Record keeping; receipt requirements. - 53-282. Record keeping; receipt requirements. (a) Every person required to...

§ 53-283 - Prohibited practices. - 53-283. Prohibited practices. No person required to be licensed under...

§ 53-284 - Suspension and revocation of license; grounds; procedure. - 53-284. Suspension and revocation of license; grounds; procedure. (a) The...

§ 53-285 - Cease and desist orders. - 53-285. Cease and desist orders. If the Commissioner determines that...

§ 53-286 - Civil penalties and restitution. - 53-286. Civil penalties and restitution. The Commissioner may order and...

§ 53-287 - Criminal penalties. - 53-287. Criminal penalties. A violation of G.S. 53-276 by a...

§ 53-288 - Commissioner to adopt rules. - 53-288. Commissioner to adopt rules. The Commissioner may adopt rules...

§ 53-289 - Commission may review rules, orders, or acts by Commissioner. - 53-289. Commission may review rules, orders, or acts by Commissioner....

Article 23 - Continuity of Contract Under European Monetary Union.

§ 53-295 - Definitions. - 53-295. Definitions. The following definitions shall apply in this Article:...

§ 53-296 - Continuity of contract. - 53-296. Continuity of contract. (a) If a subject of medium...

§ 53-297 - Effect of currency substitution on performance. - 53-297. Effect of currency substitution on performance. None of the...

§ 53-298 - References to ECU in contracts. - 53-298. References to ECU in contracts. (a) References to the...

§ 53-299 - Application. - 53-299. Application. Notwithstanding any other law, this Article shall apply...

§ 53-300 - No application to other currency alteration. - 53-300. No application to other currency alteration. In circumstances of...

Article 24 - Trust Companies and Interstate Trust Business.

§ 53-301 - Definitions. - 53-301. Definitions. (a) Except as otherwise provided in this Article,...

§ 53-302 - Title and purposes. - 53-302. Title and purposes. (a) This Part may be cited...

§ 53-303 - Companies authorized to engage in trust business. - 53-303. Companies authorized to engage in trust business. (a) No...

§ 53-304 - Activities not requiring a charter, license, or approval. - 53-304. Activities not requiring a charter, license, or approval. Notwithstanding...

§ 53-305 - Trust business of State trust institution. - 53-305. Trust business of State trust institution. A State trust...

§ 53-306 - Trust business of out-of-state trust institution. - 53-306. Trust business of out-of-state trust institution. An out-of-state trust...

§ 53-307 - Trust business of foreign trust institution. - 53-307. Trust business of foreign trust institution. A foreign trust...

§ 53-308 - Name of trust institution. - 53-308. Name of trust institution. Subject to other provisions of...

§ 53-309 - Trust deposits of authorized trust institutions. - 53-309. Trust deposits of authorized trust institutions. (a) Subsection (b)...

§ 53-310 - Offices of State trust companies. - 53-310. Offices of State trust companies. (a) A State trust...

§ 53-311 - State trust company principal office. - 53-311. State trust company principal office. (a) Each State trust...

§ 53-312 - Trust offices; representative trust offices. - 53-312. Trust offices; representative trust offices. (a) Before establishing or...

§ 53-313 - Out-of-state trust offices and representative trust offices. - 53-313. Out-of-state trust offices and representative trust offices. (a) Before...

§ 53-314 - Trust business through a branch or trust office. - 53-314. Trust business through a branch or trust office. An...

§ 53-315 - Establishing an interstate trust office. - 53-315. Establishing an interstate trust office. An out-of-state trust institution...

§ 53-316 - Acquiring an interstate trust office. - 53-316. Acquiring an interstate trust office. An out-of-state trust institution...

§ 53-317 - Requirement of notice. - 53-317. Requirement of notice. Before establishing or acquiring and maintaining...

§ 53-318 - Action on notice. - 53-318. Action on notice. (a) The out-of-state trust institution may...

§ 53-319 - Additional trust offices; representative trust offices. - 53-319. Additional trust offices; representative trust offices. (a) An out-of-state...

§ 53-320 - Examinations; periodic reports; cooperative agreements; assessment of fees. - 53-320. Examinations; periodic reports; cooperative agreements; assessment of fees. (a)...

§ 53-321 - Enforcement. - 53-321. Enforcement. (a) Consistent with Article 3A of Chapter 150B...

§ 53-322 - Notice of transactions that cause a change in control. - 53-322. Notice of transactions that cause a change in control....

§ 53-323 - Foreign trust institution application for trust office or representative trust office. - 53-323. Foreign trust institution application for trust office or representative...

§ 53-324 - Conditions for approval. - 53-324. Conditions for approval. (a) A foreign trust institution may...

§ 53-325 - Additional trust offices and representative trust offices. - 53-325. Additional trust offices and representative trust offices. A foreign...

§ 53-326 - Examinations; periodic reports; cooperative agreements; assessment of fees. - 53-326. Examinations; periodic reports; cooperative agreements; assessment of fees. (a)...

§ 53-327 - Enforcement. - 53-327. Enforcement. (a) Consistent with Article 3A of Chapter 150B...

§ 53-328 - Notice of transactions that cause a change in control. - 53-328. Notice of transactions that cause a change in control....

§ 53-329 - International agreements. - 53-329. International agreements. If any provision of this Article concerning...

§ 53-330 - Title and purposes. - 53-330. Title and purposes. (a) This Part may be cited...

§ 53-331 - Organization and powers of State trust company. - 53-331. Organization and powers of State trust company. (a) Subject...

§ 53-332 - Articles of incorporation of State trust company. - 53-332. Articles of incorporation of State trust company. (a) The...

§ 53-333 - Application for State trust company charter and permission to incorporate State trust company. - 53-333. Application for State trust company charter and permission to...

§ 53-334 - Notice and investigation of charter application. - 53-334. Notice and investigation of charter application. (a) The Commissioner...

§ 53-335 - Decision on charter application and hearing. - 53-335. Decision on charter application and hearing. (a) The Commissioner,...

§ 53-336 - Issuance of charter. - 53-336. Issuance of charter. (a) A proposed State trust company...

§ 53-337 - Required initial capital. - 53-337. Required initial capital. (a) The Commissioner shall not issue...

§ 53-338 - Subordinated notes or debentures. - 53-338. Subordinated notes or debentures. The amount of any outstanding...

§ 53-339 - Application of laws relating to general business corporations. - 53-339. Application of laws relating to general business corporations. Chapter...

§ 53-340 - Investment in State trust company facilities. - 53-340. Investment in State trust company facilities. (a) A State...

§ 53-341 - Other real estate. - 53-341. Other real estate. (a) A State trust company shall...

§ 53-342 - Securities and other investments. - 53-342. Securities and other investments. (a) A State trust company...

§ 53-343 - Prohibited distributions, acquisitions, liens, or pledges. - 53-343. Prohibited distributions, acquisitions, liens, or pledges. A State trust...

§ 53-344 - Subsidiaries. - 53-344. Subsidiaries. (a) Before acquiring, establishing, or performing activities through...

§ 53-345 - Engaging in commerce prohibited. - 53-345. Engaging in commerce prohibited. Except as otherwise provided by...

§ 53-346 - Lending and lease financing; conversion to State bank. - 53-346. Lending and lease financing; conversion to State bank. (a)...

§ 53-347 - Acquisition of control. - 53-347. Acquisition of control. (a) Except as this section otherwise...

§ 53-348 - Application regarding acquisition of control. - 53-348. Application regarding acquisition of control. (a) A person seeking...

§ 53-349 - Decision on acquisition of control. - 53-349. Decision on acquisition of control. (a) Not later than...

§ 53-350 - Appeal. - 53-350. Appeal. Any order entered by the Commissioner with respect...

§ 53-351 - Report of changes in chief executive officer or directors. - 53-351. Report of changes in chief executive officer or directors....

§ 53-352 - Board of directors. - 53-352. Board of directors. (a) All corporate powers of a...

§ 53-353 - Required board meetings. - 53-353. Required board meetings. The board of directors of a...

§ 53-354 - Officers. - 53-354. Officers. The board of directors shall annually appoint the...

§ 53-355 - Certain criminal offenses. - 53-355. Certain criminal offenses. (a) An officer, director, employee, or...

§ 53-356 - Responsibility of directors. - 53-356. Responsibility of directors. (a) The standard of conduct for...

§ 53-357 - Record keeping. - 53-357. Record keeping. A State trust company shall keep its...

§ 53-358 - Bonding requirements; reports of apparent crime. - 53-358. Bonding requirements; reports of apparent crime. (a) The board...

§ 53-359 - Merger, share exchange, or asset transfer authority. - 53-359. Merger, share exchange, or asset transfer authority. (a) With...

§ 53-360 - Merger, share exchange, or asset transfer application. - 53-360. Merger, share exchange, or asset transfer application. (a) A...

§ 53-361 - Notice and investigation of merger, share exchange, or asset transfer; decision, hearing, and appeal. - 53-361. Notice and investigation of merger, share exchange, or asset...

§ 53-362 - Appraisal rights of shareholders in mergers, share exchanges, or asset transfers. - 53-362. Appraisal rights of shareholders in mergers, share exchanges, or...

§ 53-363 - Private trust companies. - 53-363. Private trust companies. (a) The following definitions apply in...

§ 53-364 - Requirements to apply for and maintain status as a private trust company. - 53-364. Requirements to apply for and maintain status as a...

§ 53-365 - Conversion to public trust company. - 53-365. Conversion to public trust company. (a) Before transacting business...

§ 53-366 - Applicability of other laws to authorized trust institutions; status of State trust company. - 53-366. Applicability of other laws to authorized trust institutions; status...

§ 53-367 - Commissioner shall have supervision over authorized trust institutions and shall examine. - 53-367. Commissioner shall have supervision over authorized trust institutions and...

§ 53-368 - Assessment of State trust companies. - 53-368. Assessment of State trust companies. (a) For the purpose...

§ 53-369 - Administrative orders; penalties for violation; increase of equity capital. - 53-369. Administrative orders; penalties for violation; increase of equity capital....

§ 53-370 - Notice and opportunity for hearing. - 53-370. Notice and opportunity for hearing. Consistent with Chapter 150B...

§ 53-371 - Removal of directors, officers, and employees. - 53-371. Removal of directors, officers, and employees. The Commissioner may...

§ 53-372 - Required vote of shareholders. - 53-372. Required vote of shareholders. With the approval of the...

§ 53-373 - Corporate procedure. - 53-373. Corporate procedure. Shareholder action to liquidate a State trust...

§ 53-374 - Authority to liquidate; publication. - 53-374. Authority to liquidate; publication. If the Commissioner approves the...

§ 53-375 - Examination and reports. - 53-375. Examination and reports. When any State trust company is...

§ 53-376 - Unclaimed property. - 53-376. Unclaimed property. All unclaimed property remaining with a State...

§ 53-377 - When Commissioner may take charge. - 53-377. When Commissioner may take charge. The Commissioner may take...

§ 53-378 - Directors may act. - 53-378. Directors may act. A State trust company may place...

§ 53-379 - Notice of seizure; bar to attachment of liens. - 53-379. Notice of seizure; bar to attachment of liens. When...

§ 53-380 - Notice to trust institutions, corporations, and others holding assets; existing liens. - 53-380. Notice to trust institutions, corporations, and others holding assets;...

§ 53-381 - Permission to resume business. - 53-381. Permission to resume business. (a) After the Commissioner has...

§ 53-382 - Remedy for seizure; answer to notice; injunction; appeal; and motions. - 53-382. Remedy for seizure; answer to notice; injunction; appeal; and...

§ 53-383 - Collection of debts and claims; Commissioner succeeds to all property of the State trust company. - 53-383. Collection of debts and claims; Commissioner succeeds to all...

§ 53-384 - Bond of the Commissioner; surety; condition; minimum penalty. - 53-384. Bond of the Commissioner; surety; condition; minimum penalty. Upon...

§ 53-385 - Inventory. - 53-385. Inventory. Within 90 days after the filing of a...

§ 53-386 - Notice and time for filing claims. - 53-386. Notice and time for filing claims. Notice shall be...

§ 53-387 - Power to reject claims; notice; affidavit of service; action on claims. - 53-387. Power to reject claims; notice; affidavit of service; action...

§ 53-388 - List of claims presented, copies, and proviso. - 53-388. List of claims presented, copies, and proviso. Upon the...

§ 53-389 - Declaration of dividends; order of preference in distribution. - 53-389. Declaration of dividends; order of preference in distribution. (a)...

§ 53-390 - Deposit of funds collected. - 53-390. Deposit of funds collected. All funds collected by the...

§ 53-391 - Employment of counsel, accountants, and other experts; compensation. - 53-391. Employment of counsel, accountants, and other experts; compensation. The...

§ 53-392 - Unclaimed dividends held in trust. - 53-392. Unclaimed dividends held in trust. Unclaimed dividends for claims...

§ 53-393 - Action by the Commissioner following full settlement. - 53-393. Action by the Commissioner following full settlement. Whenever the...

§ 53-394 - Annual report of the Commissioner; items included; reports of condition of State trust companies. - 53-394. Annual report of the Commissioner; items included; reports of...

§ 53-395 - Compensation of the Commissioner's office. - 53-395. Compensation of the Commissioner's office. The office of the...

§ 53-396 - Exclusive method of liquidation. - 53-396. Exclusive method of liquidation. No State trust company shall...

§ 53-397 - Disposition of books and records. - 53-397. Disposition of books and records. All fiduciary records relating...

§ 53-398 - Destruction of books and records. - 53-398. Destruction of books and records. (a) After the expiration...

§ 53-399 - Petition for new trustee. - 53-399. Petition for new trustee. Any person interested in any...

§ 53-400 - Report to the Secretary of State. - 53-400. Report to the Secretary of State. The Commissioner shall,...

§ 53-401 - Provisions for conservator; duties and powers. - 53-401. Provisions for conservator; duties and powers. Whenever the Commissioner...

§ 53-402 - Examination. - 53-402. Examination. The Commissioner shall examine the affairs of a...

§ 53-403 - Termination of conservatorship. - 53-403. Termination of conservatorship. If the Commissioner is satisfied that...

§ 53-404 - Rights and liabilities of conservator. - 53-404. Rights and liabilities of conservator. A conservator appointed pursuant...

§ 53-405 - Naming of conservator not liquidation. - 53-405. Naming of conservator not liquidation. No power conferred in...

§ 53-406 - Sale of assets by board of jeopardized State trust company. - 53-406. Sale of assets by board of jeopardized State trust...

§ 53-407 - Authority to act as disbursing agent. - 53-407. Authority to act as disbursing agent. If a purchasing...

§ 53-408 - Payment to creditors. - 53-408. Payment to creditors. Payment to a creditor of the...

§ 53-409 - Issuance of preferred shares by jeopardized trust company. - 53-409. Issuance of preferred shares by jeopardized trust company. Notwithstanding...

§ 53-410 - Commissioner to act under authority of the Commission. - 53-410. Commissioner to act under authority of the Commission. All...

§ 53-411 - Rules. - 53-411. Rules. The Commission may adopt rules in accordance with...

§ 53-412 - Commissioner hearings; appeals. - 53-412. Commissioner hearings; appeals. (a) This section does not grant...

§ 53-413 - Civil enforcement. - 53-413. Civil enforcement. The Commissioner may bring any appropriate civil...

§ 53-414 - Cancellation of charter. - 53-414. Cancellation of charter. Whenever a merger, share exchange, sale...

§ 53-415 - Severability. - 53-415. Severability. If any provision of this Article, or its...

§ 53-420 - Affiliate transfers authorized; procedure. - 53-420. Affiliate transfers authorized; procedure. (a) A trust institution may...

§ 53-421 - Objection to affiliate transfer. - 53-421. Objection to affiliate transfer. If a client, or a...

§ 53-422 - Effect of affiliate transfer. - 53-422. Effect of affiliate transfer. (a) Following an affiliate transfer,...

§ 53-423 - Trust institution as agent. - 53-423. Trust institution as agent. A trust institution may appoint...

§ 53-424 - Construction. - 53-424. Construction. (a) Except as expressly provided in this Part,...

Article 25 - Asset-Backed Securities Facilitation.

§ 53-425 - Definitions. - 53-425. Definitions. The following definitions apply in this Article: (1)...

§ 53-426 - Waiver of equity of redemption. - 53-426. Waiver of equity of redemption. (a) Notwithstanding any other...

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North Carolina General Statutes Chapter 53 - Regulation of Financial Services

North Carolina General Statutes
Chapter 53 - Regulation of Financial Services