North Carolina General Statutes
Chapter 53C - Regulation of Banks

§ 53C-1-3 - Existing banks; prohibitions, injunctions. - 53C-1-3. Existing banks; prohibitions, injunctions. (a) No depository institution organized...

§ 53C-1-4 - Definitions and application of terms. - 53C-1-4. Definitions and application of terms. Unless the context requires...

§ 53C-1-5 - Severability. - 53C-1-5. Severability. If any provision of this Chapter is found...

Article 2 - Commission and Commissioner.

§ 53C-2-1 - The Commission. - 53C-2-1. The Commission. (a) The Commission consists of 15 members,...

§ 53C-2-2 - The Commissioner. - 53C-2-2. The Commissioner. (a) Effective April 1, 2011, and quadrennially...

§ 53C-2-3 - The Office of the Commissioner of Banks. - 53C-2-3. The Office of the Commissioner of Banks. (a) The...

§ 53C-2-4 - Administration of the Office of the Commissioner of Banks. - 53C-2-4. Administration of the Office of the Commissioner of Banks....

§ 53C-2-5 - Rule making. - 53C-2-5. Rule making. (a) The Commissioner, subject to review and...

§ 53C-2-6 - Hearings and appeals. - 53C-2-6. Hearings and appeals. (a) Any administrative hearing required or...

§ 53C-2-7 - Official record. - 53C-2-7. Official record. (a) The Commissioner shall keep a record...

Article 3 - Organization of a Bank.

§ 53C-3-1 - Application to organize a bank. - 53C-3-1. Application to organize a bank. (a) An applicant for...

§ 53C-3-2 - Permission to organize a bank. - 53C-3-2. Permission to organize a bank. (a) With the approval...

§ 53C-3-3 - Articles of incorporation of a proposed bank. - 53C-3-3. Articles of incorporation of a proposed bank. (a) The...

§ 53C-3-4 - Commissioner's approval of charter issuance. - 53C-3-4. Commissioner's approval of charter issuance. (a) The Commissioner may...

§ 53C-3-5 - Notice; public hearing. - 53C-3-5. Notice; public hearing. (a) Not less than 30 days...

§ 53C-3-6 - Commission decision. - 53C-3-6. Commission decision. (a) The Commission shall consider the findings...

§ 53C-3-7 - Issuance of charter. - 53C-3-7. Issuance of charter. (a) A proposed bank shall not...

Article 4 - Governance of Banks.

§ 53C-4-1 - Banks - Form of organization. - 53C-4-1. Banks - Form of organization. (a) A bank shall...

§ 53C-4-2 - Banks controlled by boards of directors. - 53C-4-2. Banks controlled by boards of directors. (a) The corporate...

§ 53C-4-3 - Committees of boards of directors. - 53C-4-3. Committees of boards of directors. (a) The board of...

§ 53C-4-4 - Minutes of meetings of directors and committees. - 53C-4-4. Minutes of meetings of directors and committees. Minutes shall...

§ 53C-4-5 - Qualifications of bank directors. - 53C-4-5. Qualifications of bank directors. (a) At least three-fourths of...

§ 53C-4-6 - Liability of directors. - 53C-4-6. Liability of directors. (a) The standard of conduct for...

§ 53C-4-7 - Directors may declare distributions. - 53C-4-7. Directors may declare distributions. Provided a bank does not...

§ 53C-4-8 - Officers and employees shall give bond. - 53C-4-8. Officers and employees shall give bond. (a) A bank...

§ 53C-4-9 - Affiliate transactions. - 53C-4-9. Affiliate transactions. A bank may extend credit to, and...

§ 53C-4-10 - Examination of board composition, structure, and conduct. - 53C-4-10. Examination of board composition, structure, and conduct. (a) As...

§ 53C-4-11 - Reserve fund. - 53C-4-11. Reserve fund. (a) Each bank shall maintain a reserve...

§ 53C-4-12 - Compliance review committee. - 53C-4-12. Compliance review committee. (a) For purposes of this section,...

§ 53C-4-13 - Immediate report of changes in directors and certain officers. - 53C-4-13. Immediate report of changes in directors and certain officers....

Article 5 - Powers of Banks.

§ 53C-5-1 - Powers. - 53C-5-1. Powers. (a) Except as otherwise specifically provided by this...

§ 53C-5-2 - Investment authority. - 53C-5-2. Investment authority. (a) In addition to any powers or...

§ 53C-5-3 - Banks, fiduciaries authorized to invest in securities approved by the Secretary of Housing and Urban Development, Federal Housing Administration, Veterans Administration. - 53C-5-3. Banks, fiduciaries authorized to invest in securities approved by...

Article 6 - Bank Operations.

§ 53C-6-1 - Loans and extensions of credit. - 53C-6-1. Loans and extensions of credit. (a) A bank may...

§ 53C-6-2 - Deposits. - 53C-6-2. Deposits. (a) A bank may, consistent with applicable law...

§ 53C-6-3 - Securing deposits. - 53C-6-3. Securing deposits. (a) A bank may not create a...

§ 53C-6-4 - Minors. - 53C-6-4. Minors. (a) A bank may issue and operate a...

§ 53C-6-6 - Joint accounts. - 53C-6-6. Joint accounts. (a) Any two or more individuals may...

§ 53C-6-7 - Payable on Death accounts. - 53C-6-7. Payable on Death accounts. (a) If any individual establishing...

§ 53C-6-8 - Personal agency accounts. - 53C-6-8. Personal agency accounts. (a) Any person may establish a...

§ 53C-6-9 - Accounts opened by adults for minors. - 53C-6-9. Accounts opened by adults for minors. (a) One or...

§ 53C-6-10 - Payment of balance of deceased person or person under disability to personal representative or guardian. - 53C-6-10. Payment of balance of deceased person or person under...

§ 53C-6-11 - Powers of attorney; notice of revocation; payment after notice. - 53C-6-11. Powers of attorney; notice of revocation; payment after notice....

§ 53C-6-12 - Account statements to be rendered annually or on request. - 53C-6-12. Account statements to be rendered annually or on request....

§ 53C-6-13 - Safe deposit boxes; unpaid rentals; procedure; escheats. - 53C-6-13. Safe deposit boxes; unpaid rentals; procedure; escheats. (a) If...

§ 53C-6-14 - Reproduction and retention of records; admissibility of copies in evidence; disposition of originals; record production generally. - 53C-6-14. Reproduction and retention of records; admissibility of copies in...

§ 53C-6-15 - Establishment of branches. - 53C-6-15. Establishment of branches. (a) A bank may establish one...

§ 53C-6-16 - Change of location of a branch or principal office. - 53C-6-16. Change of location of a branch or principal office....

§ 53C-6-17 - Branch closings. - 53C-6-17. Branch closings. A bank may close a branch upon...

§ 53C-6-18 - Non-branch bank business offices. - 53C-6-18. Non-branch bank business offices. (a) A bank may establish...

§ 53C-6-19 - Operations; suspension. - 53C-6-19. Operations; suspension. (a) A bank, any of its branches,...

§ 53C-6-20 - Savings promotion raffles. - 53C-6-20. Savings promotion raffles. A bank may offer a savings...

Article 7 - Control Transactions; Combinations; Conversions.

§ 53C-7-101 - Control transactions. - 53C-7-101. Control transactions. (a) Except as otherwise expressly permitted by...

§ 53C-7-102 - Application regarding a control transaction. - 53C-7-102. Application regarding a control transaction. (a) A person seeking...

§ 53C-7-103 - Public notice. - 53C-7-103. Public notice. A person filing an application for approval...

§ 53C-7-104 - Actions on control transaction applications. - 53C-7-104. Actions on control transaction applications. (a) The Commissioner shall...

§ 53C-7-105 - Appeal. - 53C-7-105. Appeal. Any order of the Commissioner denying an application...

§ 53C-7-201 - Combination authority. - 53C-7-201. Combination authority. With the approval of the Commissioner, a...

§ 53C-7-202 - Combination application and investigation. - 53C-7-202. Combination application and investigation. (a) A bank seeking approval...

§ 53C-7-203 - Decision on application. - 53C-7-203. Decision on application. Based on the application and the...

§ 53C-7-204 - Interim banks. - 53C-7-204. Interim banks. The Commissioner may approve an application to...

§ 53C-7-205 - Fiduciary powers and liabilities in a combination or a transferring of assets and liabilities. - 53C-7-205. Fiduciary powers and liabilities in a combination or a...

§ 53C-7-206 - Combination with federally chartered institution. - 53C-7-206. Combination with federally chartered institution. A combination by a...

§ 53C-7-207 - Combination with a nonbank subsidiary. - 53C-7-207. Combination with a nonbank subsidiary. (a) Except as provided...

§ 53C-7-209 - Appeal. - 53C-7-209. Appeal. Any order of the Commissioner denying an application...

§ 53C-7-301 - Conversion to a North Carolina bank charter. - 53C-7-301. Conversion to a North Carolina bank charter. (a) Any...

§ 53C-7-302 - Appeal. - 53C-7-302. Appeal. Any order of the Commissioner denying an application...

§ 53C-7-303 - Conversion by North Carolina bank. - 53C-7-303. Conversion by North Carolina bank. (a) A bank may...

Article 8 - Bank Supervision.

§ 53C-8-1 - Commissioner has authority to supervise banks. - 53C-8-1. Commissioner has authority to supervise banks. (a) Every bank...

§ 53C-8-2 - Assessments and fees. - 53C-8-2. Assessments and fees. Banks shall pay the following assessments...

§ 53C-8-3 - Reports required of banks. - 53C-8-3. Reports required of banks. (a) Each bank shall file...

§ 53C-8-4 - Examination by Commissioner. - 53C-8-4. Examination by Commissioner. (a) The Commissioner may examine everything...

§ 53C-8-5 - Examination of affiliates. - 53C-8-5. Examination of affiliates. The Commissioner, at his or her...

§ 53C-8-6 - Access to books and records; right to issue subpoenas, administer oaths, and examine witnesses. - 53C-8-6. Access to books and records; right to issue subpoenas,...

§ 53C-8-7 - Examiner making false report. - 53C-8-7. Examiner making false report. If any bank examiner shall...

§ 53C-8-8 - Examiner disclosing confidential information. - 53C-8-8. Examiner disclosing confidential information. If any examiner or other...

§ 53C-8-9 - Loans or gratuities forbidden. - 53C-8-9. Loans or gratuities forbidden. (a) No bank, or any...

§ 53C-8-10 - Willfully and maliciously making derogatory reports. - 53C-8-10. Willfully and maliciously making derogatory reports. Any person who...

§ 53C-8-11 - Misapplication, embezzlement of funds. - 53C-8-11. Misapplication, embezzlement of funds. (a) Any person who, with...

§ 53C-8-12 - Enforcement of the banking laws. - 53C-8-12. Enforcement of the banking laws. (a) When the Commissioner...

§ 53C-8-13 - Immediate action orders. - 53C-8-13. Immediate action orders. (a) In the event that the...

§ 53C-8-14 - Supervisory control. - 53C-8-14. Supervisory control. (a) Whenever the Commissioner determines that a...

§ 53C-8-15 - Removal of directors, officers, and employees. - 53C-8-15. Removal of directors, officers, and employees. (a) If the...

§ 53C-8-16 - Emergency powers. - 53C-8-16. Emergency powers. In the event of a natural disaster...

§ 53C-8-17 - Interstate regulatory agreements. - 53C-8-17. Interstate regulatory agreements. The Commissioner may enter into cooperative,...

Article 9 - Supervisory Liquidation; Voluntary Dissolution and Liquidation.

§ 53C-9-101 - Supervisory combinations. - 53C-9-101. Supervisory combinations. Notwithstanding any other provision of this Chapter,...

§ 53C-9-102 - Distributions; assignments restricted. - 53C-9-102. Distributions; assignments restricted. A bank that is in the...

§ 53C-9-103 - Cancellation of charter. - 53C-9-103. Cancellation of charter. Whenever a combination, dissolution, or other...

§ 53C-9-201 - Voluntary dissolution prior to receipt of charter. - 53C-9-201. Voluntary dissolution prior to receipt of charter. A bank...

§ 53C-9-202 - Voluntary dissolution. - 53C-9-202. Voluntary dissolution. (a) With the approval of the Commissioner,...

§ 53C-9-203 - Voluntary dissolution and liquidation procedure. - 53C-9-203. Voluntary dissolution and liquidation procedure. (a) At the appropriate...

§ 53C-9-301 - Receivership. - 53C-9-301. Receivership. (a) The Commissioner may take custody of the...

§ 53C-9-401 - Article relating to receivers applicable to insolvent banks. - 53C-9-401. Article relating to receivers applicable to insolvent banks. Article...

§ 53C-9-402 - Storage and destruction of records. - 53C-9-402. Storage and destruction of records. (a) Any record of...

§ 53C-9-403 - Authority to serve as trustee terminated. - 53C-9-403. Authority to serve as trustee terminated. Whenever any bank...

§ 53C-9-404 - Petition for new trustee; upon parties interested. - 53C-9-404. Petition for new trustee; upon parties interested. In all...

§ 53C-9-405 - Appointment of substitute trustee where no objection made. - 53C-9-405. Appointment of substitute trustee where no objection made. If,...

§ 53C-9-406 - Hearing where objection made; appeal from order. - 53C-9-406. Hearing where objection made; appeal from order. If objection...

§ 53C-9-407 - Registration of final order. - 53C-9-407. Registration of final order. The final order of appointment...

§ 53C-9-408 - Petition and order applicable to all instruments involved. - 53C-9-408. Petition and order applicable to all instruments involved. The...

§ 53C-9-409 - Additional remedy. - 53C-9-409. Additional remedy. The appointment of a substitute trustee as...

Article 10 - Bank Holding Companies.

§ 53C-10-101 - Holding companies. - 53C-10-101. Holding companies. Every holding company, as defined in G.S....

§ 53C-10-102 - Holding company control transaction. - 53C-10-102. Holding company control transaction. (a) Except as otherwise expressly...

§ 53C-10-103 - Application regarding a control transaction. - 53C-10-103. Application regarding a control transaction. (a) A person seeking...

§ 53C-10-104 - Public notice. - 53C-10-104. Public notice. A person filing an application for approval...

§ 53C-10-105 - Actions on control transaction applications. - 53C-10-105. Actions on control transaction applications. (a) The Commissioner shall...

§ 53C-10-106 - Appeal. - 53C-10-106. Appeal. Any order of the Commissioner denying an application...

§ 53C-10-201 - Combination authority. - 53C-10-201. Combination authority. With the approval of the Commissioner, a...

§ 53C-10-202 - Combination application and investigation. - 53C-10-202. Combination application and investigation. (a) A holding company of...

§ 53C-10-203 - Decision on application. - 53C-10-203. Decision on application. Based on the application and the...

§ 53C-10-204 - Appeal. - 53C-10-204. Appeal. Any order of the Commissioner denying an application...

§ 53C-10-301 - Cease and desist order. - 53C-10-301. Cease and desist order. Upon a finding that any...

§ 53C-10-302 - Other control changes. - 53C-10-302. Other control changes. Each holding company of a bank...

§ 53C-10-303 - Fees. - 53C-10-303. Fees. A holding company subject to this Article shall...

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North Carolina General Statutes Chapter 53C - Regulation of Banks

North Carolina General Statutes
Chapter 53C - Regulation of Banks