North Carolina General Statutes
Chapter 53 - Regulation of Financial Services
Article 24 - Trust Companies and Interstate Trust Business.

§ 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,...

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North Carolina General Statutes Chapter 53 - Regulation of Financial Services Article 24 - Trust Companies and Interstate Trust Business.

North Carolina General Statutes
Chapter 53 - Regulation of Financial Services
Article 24 - Trust Companies and Interstate Trust Business.