North Carolina General Statutes
Chapter 54C - Savings Banks

§ 54C-12 - Criteria to be met before the Commissioner of Banks may recommend approval of an application. - 54C-12. Criteria to be met before the Commissioner of Banks...

§ 54C-13 - Commission to review findings and recommendations of Commissioner of Banks. - 54C-13. Commission to review findings and recommendations of Commissioner of...

§ 54C-14 - Grounds for approval or denial of application. - 54C-14. Grounds for approval or denial of application. (a) After...

§ 54C-15 - Final decision. - 54C-15. Final decision. The Commission shall present the Commissioner of...

§ 54C-16 - Appeal. - 54C-16. Appeal. The final decision of the Commission may be...

§ 54C-17 - Insurance of accounts required. - 54C-17. Insurance of accounts required. A State savings bank shall...

§ 54C-19 - Time allowed to commence business. - 54C-19. Time allowed to commence business. A newly chartered savings...

§ 54C-20 - Licensing. - 54C-20. Licensing. A newly chartered savings bank is entitled to...

§ 54C-21 - Amendments to certificate of incorporation. - 54C-21. Amendments to certificate of incorporation. (a) An amendment to...

§ 54C-22 - List of stockholders to be maintained. - 54C-22. List of stockholders to be maintained. A stock savings...

§ 54C-23 - Branch offices. - 54C-23. Branch offices. (a) A State savings bank may apply...

§ 54C-24 - Request to change location of a branch or principal office. - 54C-24. Request to change location of a branch or principal...

§ 54C-25 - Approval revoked; branch office. - 54C-25. Approval revoked; branch office. The Commission may, for good...

§ 54C-26 - Branch offices closed. - 54C-26. Branch offices closed. The Board of a State savings...

§ 54C-27 - Loan production office. - 54C-27. Loan production office. A State savings bank may open...

Article 3 - Corporate Changes.

§ 54C-30 - Conversion to savings bank. - 54C-30. Conversion to savings bank. (a) An association or State...

§ 54C-31 - Conversion from State to federal charter. - 54C-31. Conversion from State to federal charter. A State savings...

§ 54C-32 - Simultaneous charter and ownership conversion. - 54C-32. Simultaneous charter and ownership conversion. (a) In the event...

§ 54C-33 - Conversion of mutual to stock savings bank. - 54C-33. Conversion of mutual to stock savings bank. (a) A...

§ 54C-34 - Conversion of stock savings bank to mutual savings bank. - 54C-34. Conversion of stock savings bank to mutual savings bank....

§ 54C-35 - Merger of like savings banks. - 54C-35. Merger of like savings banks. Any two or more...

§ 54C-36 - Simultaneous conversion/merger. - 54C-36. Simultaneous conversion/merger. (a) The Commissioner of Banks shall not...

§ 54C-37 - Merger of mutual and stock savings banks. - 54C-37. Merger of mutual and stock savings banks. Any two...

§ 54C-38 - Simultaneous merger and conversion. - 54C-38. Simultaneous merger and conversion. Any combination of associations and...

§ 54C-39 - Merger of federal charters with State savings banks. - 54C-39. Merger of federal charters with State savings banks. Any...

§ 54C-40 - Merger of savings banks with banks and associations. - 54C-40. Merger of savings banks with banks and associations. (a)...

§ 54C-41 - Voluntary dissolution by directors. - 54C-41. Voluntary dissolution by directors. A State savings bank may...

§ 54C-42 - Voluntary dissolution by stockholders or members. - 54C-42. Voluntary dissolution by stockholders or members. At any annual...

§ 54C-43 - Reports of voluntary dissolution. - 54C-43. Reports of voluntary dissolution. Upon completion of liquidation, the...

§ 54C-44 - Stock dividends. - 54C-44. Stock dividends. No dividend on stock shall be paid...

§ 54C-45 - Supervisory mergers, consolidations, conversions, and combination mergers and conversions. - 54C-45. Supervisory mergers, consolidations, conversions, and combination mergers and conversions....

§ 54C-46 - Interim savings banks. - 54C-46. Interim savings banks. (a) Article 2 of this Chapter...

§ 54C-47 - Conversion to bank. - 54C-47. Conversion to bank. (a) A State savings bank, upon...

Article 4 - Supervision.

§ 54C-52 - Supervision. - 54C-52. Supervision. (a) The Commissioner of Banks shall perform the...

§ 54C-53 - Power of Commissioner of Banks to adopt rules and definitions; reproduction of records. - 54C-53. Power of Commissioner of Banks to adopt rules and...

§ 54C-54 - Examinations by Commissioner of Banks; report. - 54C-54. Examinations by Commissioner of Banks; report. (a) It is...

§ 54C-55 - Supervision and examination fees authorized; use of funds collected under Chapter. - 54C-55. Supervision and examination fees authorized; use of funds collected...

§ 54C-56 - Prolonged audit, examination, or revaluation; payment of costs. - 54C-56. Prolonged audit, examination, or revaluation; payment of costs. (a)...

§ 54C-57 - Commissioner of Banks to have right of access to books and records of the savings bank; right to issue subpoenas, administer oaths, examine witnesses. - 54C-57. Commissioner of Banks to have right of access to...

§ 54C-58 - Test appraisals of collateral for loans; expense paid. - 54C-58. Test appraisals of collateral for loans; expense paid. (a)...

§ 54C-59 - Relationship of savings banks with the Savings Institutions Division. - 54C-59. Relationship of savings banks with the Savings Institutions Division....

§ 54C-60 - Confidential information. - 54C-60. Confidential information. (a) The following records or information of...

§ 54C-60.1 - Confidential records. - 54C-60.1. Confidential records. (a) As used in this section: (1)...

§ 54C-61 - Annual license fees. - 54C-61. Annual license fees. A state savings bank shall pay...

§ 54C-62 - Statement filed by savings bank; fees and examination. - 54C-62. Statement filed by savings bank; fees and examination. A...

§ 54C-64 - Prohibited practices. - 54C-64. Prohibited practices. A person who engages in any of...

Article 5 - Enforcement.

§ 54C-76 - Cease and desist orders. - 54C-76. Cease and desist orders. (a) If a person or...

§ 54C-77 - Civil penalties; State savings banks. - 54C-77. Civil penalties; State savings banks. (a) Except as otherwise...

§ 54C-78 - Civil penalties; directors, officers, and employees. - 54C-78. Civil penalties; directors, officers, and employees. (a) A person,...

§ 54C-79 - Criminal penalties. - 54C-79. Criminal penalties. (a) This section shall in no event...

§ 54C-80 - Primary jurisdiction. - 54C-80. Primary jurisdiction. Whenever an agency of the United States...

§ 54C-81 - Supervisory control. - 54C-81. Supervisory control. (a) Whenever the Commissioner of Banks determines...

§ 54C-82 - Removal of directors, officers, and employees. - 54C-82. Removal of directors, officers, and employees. (a) If, in...

§ 54C-83 - Involuntary liquidation. - 54C-83. Involuntary liquidation. (a) The Commissioner of Banks, with prior...

§ 54C-84 - Judicial review. - 54C-84. Judicial review. A person or State savings bank against...

§ 54C-85 - Indemnity. - 54C-85. Indemnity. No person who is fined or penalized for...

§ 54C-86 - Cumulative penalties. - 54C-86. Cumulative penalties. All penalties, fines, and remedies provided by...

§ 54C-87 - Emergency limitations. - 54C-87. Emergency limitations. The Commissioner of Banks, with the approval...

Article 6 - Corporate Administration.

§ 54C-100 - Membership of a mutual association. - 54C-100. Membership of a mutual association. The membership of a...

§ 54C-101 - Directors. - 54C-101. Directors. (a) The directors of a mutual savings bank...

§ 54C-102 - Bylaws. - 54C-102. Bylaws. The bylaws and any amendments shall be certified...

§ 54C-103 - Duties and liabilities of officers and directors to their associations. - 54C-103. Duties and liabilities of officers and directors to their...

§ 54C-104 - Conflicts of interest. - 54C-104. Conflicts of interest. Each director, officer, and employee of...

§ 54C-105 - Voting rights. - 54C-105. Voting rights. Voting rights in the affairs of a...

§ 54C-106 - Annual meetings notice required. - 54C-106. Annual meetings notice required. (a) A savings bank shall...

§ 54C-107 - Special meetings; notice required. - 54C-107. Special meetings; notice required. (a) Special meetings of members...

§ 54C-108 - Quorum. - 54C-108. Quorum. Unless otherwise provided in the savings bank's charter...

§ 54C-109 - Bonding. - 54C-109. Bonding. (a) A savings bank shall maintain a blanket...

Article 7 - Loans and Investments.

§ 54C-121 - Loans. - 54C-121. Loans. (a) A savings bank may loan funds as...

§ 54C-122 - Lending procedures. - 54C-122. Lending procedures. (a) The board of directors shall establish...

§ 54C-123 - Prohibited security. - 54C-123. Prohibited security. No savings bank may accept its own...

§ 54C-124 - Loans conditioned on certain transactions prohibited. - 54C-124. Loans conditioned on certain transactions prohibited. (a) No savings...

§ 54C-125 - Loan expenses and fees. - 54C-125. Loan expenses and fees. (a) Subject to Chapter 24...

§ 54C-126 - Methods of loan repayment. - 54C-126. Methods of loan repayment. Subject to any rules as...

§ 54C-127 - Insider loans. - 54C-127. Insider loans. The Commissioner of Banks may adopt rules...

§ 54C-128 - Rulemaking power of Commissioner of Banks. - 54C-128. Rulemaking power of Commissioner of Banks. Any rule that...

§ 54C-129 - Nonconforming loans and investments. - 54C-129. Nonconforming loans and investments. Unless otherwise provided, every loan...

§ 54C-130 - Limitation on loans to one borrower. - 54C-130. Limitation on loans to one borrower. (a) The total...

§ 54C-131 - Investment in banking premises. - 54C-131. Investment in banking premises. A savings bank may invest...

§ 54C-132 - United States obligations. - 54C-132. United States obligations. A savings bank may invest in...

§ 54C-133 - North Carolina obligations. - 54C-133. North Carolina obligations. A savings bank may invest in...

§ 54C-134 - Federal Home Loan Bank obligations. - 54C-134. Federal Home Loan Bank obligations. A savings bank may...

§ 54C-135 - Deposits in depository institutions. - 54C-135. Deposits in depository institutions. A savings bank may invest...

§ 54C-136 - Federal government-sponsored enterprise obligations. - 54C-136. Federal government-sponsored enterprise obligations. A savings bank may invest...

§ 54C-137 - Municipal and county obligations. - 54C-137. Municipal and county obligations. A savings bank may invest...

§ 54C-138 - Stock in education agency. - 54C-138. Stock in education agency. A savings bank may invest...

§ 54C-139 - Industrial development corporation stock. - 54C-139. Industrial development corporation stock. A savings bank may invest...

§ 54C-140 - Urban renewal investment corporation stock. - 54C-140. Urban renewal investment corporation stock. A savings bank may...

§ 54C-141 - Limitations on investment in stocks and securities. - 54C-141. Limitations on investment in stocks and securities. (a) No...

§ 54C-142 - Suspension of investment and loan limitation. - 54C-142. Suspension of investment and loan limitation. The board of...

§ 54C-143 - Commercial lending. - 54C-143. Commercial lending. A savings bank may lend and invest...

§ 54C-144 - Service corporations. - 54C-144. Service corporations. (a) A savings bank or group of...

§ 54C-145 - Parity in loans or investments. - 54C-145. Parity in loans or investments. Subject to any limitations...

§ 54C-146 - Certain powers granted to State savings banks. - 54C-146. Certain powers granted to State savings banks. (a) In...

Article 8 - Operations.

§ 54C-161 - Generally accepted accounting principles. - 54C-161. Generally accepted accounting principles. A savings bank shall maintain...

§ 54C-162 - Liquidity. - 54C-162. Liquidity. A savings bank shall maintain cash and readily...

§ 54C-163 - Net worth requirement. - 54C-163. Net worth requirement. A savings bank shall maintain net...

§ 54C-164 - Deposit accounts. - 54C-164. Deposit accounts. (a) A savings bank may raise capital...

§ 54C-165 - Joint accounts. - 54C-165. Joint accounts. (a) Any two or more persons may...

§ 54C-166.1 - Payable on Death (POD) accounts. - 54C-166.1. Payable on Death (POD) accounts. (a) If any natural...

§ 54C-167 - Personal agency accounts. - 54C-167. Personal agency accounts. (a) A person may open a...

§ 54C-168 - Collection of processing fee for returned checks. - 54C-168. Collection of processing fee for returned checks. Notwithstanding any...

§ 54C-169 - Right of setoff on deposit accounts. - 54C-169. Right of setoff on deposit accounts. (a) A savings...

§ 54C-170 - Minors as deposit account holders. - 54C-170. Minors as deposit account holders. (a) A savings bank...

§ 54C-171 - Deposit accounts as deposit of securities. - 54C-171. Deposit accounts as deposit of securities. Notwithstanding any restrictions...

§ 54C-172 - New account books. - 54C-172. New account books. A new account book or certificate...

§ 54C-173 - Transfer of deposit accounts. - 54C-173. Transfer of deposit accounts. The owner of a deposit...

§ 54C-174 - Authority of power of attorney. - 54C-174. Authority of power of attorney. A savings bank may...

§ 54C-175 - Days and hours of operation. - 54C-175. Days and hours of operation. A savings bank may...

§ 54C-176 - Power to borrow money. - 54C-176. Power to borrow money. A savings bank, in its...

§ 54C-177 - Authority to join federal reserve bank. - 54C-177. Authority to join federal reserve bank. A State savings...

§ 54C-178 - Regional reciprocal acquisitions. - 54C-178. Regional reciprocal acquisitions. State savings banks and holding companies...

§ 54C-179 - Forced retirement of deposit accounts. - 54C-179. Forced retirement of deposit accounts. (a) A savings bank...

§ 54C-180 - Savings promotion raffles. - 54C-180. Savings promotion raffles. A savings bank may offer a...

Article 9 - Holding Companies.

§ 54C-195 - Holding companies. - 54C-195. Holding companies. (a) Notwithstanding any other law, a stock...

§ 54C-196 - Supervision of holding companies. - 54C-196. Supervision of holding companies. Holding companies are under the...

Article 10 - Savings Bank Interstate Branches.

§ 54C-199 - Title. - 54C-199. Title. This Article shall be known and may be...

§ 54C-200 - Definitions. - 54C-200. Definitions. As used in this Article, unless the context...

§ 54C-201 - Establishment of branches by out-of-state savings banks. - 54C-201. Establishment of branches by out-of-state savings banks. Any out-of-state...

§ 54C-202 - Application requirements. - 54C-202. Application requirements. (a) Any out-of-state savings bank desiring to...

§ 54C-203 - Conditions for approval. - 54C-203. Conditions for approval. No application by an out-of-state savings...

§ 54C-204 - Special conditions. - 54C-204. Special conditions. (a) The Commissioner of Banks may require...

§ 54C-205 - Powers. - 54C-205. Powers. An out-of-state savings bank that establishes a branch...

§ 54C-206 - Establishment of out-of-state branches by State savings banks. - 54C-206. Establishment of out-of-state branches by State savings banks. With...

§ 54C-207 - Regulatory and supervisory oversight. - 54C-207. Regulatory and supervisory oversight. (a) The Commissioner of Banks...

§ 54C-208 - Enforcement. - 54C-208. Enforcement. (a) Any enforcement authority available to the Commissioner...

§ 54C-209 - Branch closings. - 54C-209. Branch closings. An out-of-state savings bank that is subject...

§ 54C-210 - Rules. - 54C-210. Rules. The Commission may adopt rules as necessary to...

§ 54C-211 - Appeal of Commissioner of Banks' decision. - 54C-211. Appeal of Commissioner of Banks' decision. Any aggrieved party...

§ 54C-212 - Severability. - 54C-212. Severability. If any provision of this Article or the...

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North Carolina General Statutes Chapter 54C - Savings Banks

North Carolina General Statutes
Chapter 54C - Savings Banks