N.C. Gen. Stat. § 54C-1
Title
Title. This Chapter shall be known and may be cited as "Savings Banks." (1991, c. 680, s. 1.)
North Carolina General Statutes Chapter 54C — Chapter 54C.
North Carolina · statute · N.C. Gen. Stat. ch. 54C · 140 active provisions
Provisions
N.C. Gen. Stat. § 54C-2
Purpose
Purpose. The purposes of this Chapter are: (1) To provide for the safe and sound conduct of the business of savings banks, the conservation of their assets, and the maintenance of public confidence in savings banks. (2) To provide for the protection of the interests of customers and members. (3) To provide the opportun…
N.C. Gen. Stat. § 54C-3
Applicability of Chapter
Applicability of Chapter. This Chapter, unless the context otherwise specifies, shall apply to all State savings banks. (1991, c. 680, s. 1.)
N.C. Gen. Stat. § 54C-4
Definitions and application of terms
Definitions and application of terms. (a) Except with respect to this Chapter and Chapter 54B, the term "savings and loan association" when used in the General Statutes shall include savings banks chartered under this Chapter. (b) Unless the context otherwise requires, the following definitions apply in this Chapter: (…
N.C. Gen. Stat. § 54C-6
Hearings
Hearings. Any hearing required to be held by this Chapter shall be conducted in accordance with Article 3A of Chapter 150B of the General Statutes. (1991, c. 680, s. 1.)
N.C. Gen. Stat. § 54C-7
Application of Chapter on business corporations
Application of Chapter on business corporations. All law relating to private corporations, and particularly the North Carolina Business Corporation Act, Chapter 55 of the General Statutes, that is not inconsistent with this Chapter or with the proper business of depository institutions is applicable to all State saving…
N.C. Gen. Stat. § 54C-8
Scope and prohibitions; existing charters; injunctions
Scope and prohibitions; existing charters; injunctions. (a) Nothing in this Chapter shall be construed to invalidate any charter that was valid before the enactment of this Chapter. Any savings banks so chartered on October 1, 1991, may continue operation in accordance with the Chapter under which it was chartered. How…
N.C. Gen. Stat. § 54C-9
Application to organize a savings bank
Application to organize a savings bank. (a) The original incorporators, a majority of whom shall be domiciled in this State, may organize and establish a savings bank in order to promote the purposes of this Chapter, subject to approval as provided in this Chapter. The original incorporators shall file with the Commiss…
N.C. Gen. Stat. § 54C-10
Certificate of incorporation
Certificate of incorporation. (a) The certificate of incorporation of a proposed mutual savings bank shall set forth the following: (1) The name of the savings bank, which shall not so closely resemble the name of an existing depository institution doing business under the laws of this State as to be likely to mislead…
N.C. Gen. Stat. § 54C-11
Commissioner of Banks to consider application
Commissioner of Banks to consider application. Upon receipt of an application to organize and establish a savings bank, the Commissioner of Banks shall examine or cause to be examined all the relevant facts connected with the formation of the proposed savings bank. If it appears to the Commissioner of Banks that the pr…
N.C. Gen. Stat. § 54C-12
Criteria to be met before the Commissioner of Banks may recommend approval of an application
Criteria to be met before the Commissioner of Banks may recommend approval of an application. (a) The Commissioner of Banks may recommend approval of an application to form a mutual savings bank only when all of the following criteria are met: (1) The proposed savings bank has an operational expense fund, from which to…
N.C. Gen. Stat. § 54C-13
Commission to review findings and recommendations of Commissioner of Banks
Commission to review findings and recommendations of Commissioner of Banks. (a) If the Commissioner of Banks does not have the completed application within 120 days of the filing of the preliminary application, the application shall be returned to the applicants. (b) When the Commissioner of Banks has completed the exa…
N.C. Gen. Stat. § 54C-14
Grounds for approval or denial of application
Grounds for approval or denial of application. (a) After consideration of the findings, recommendations, and any oral testimony of the Commissioner of Banks, and the consideration of any other information and evidence, either written or oral, as has come before it at the public hearing, the Commission shall approve or…
N.C. Gen. Stat. § 54C-15
Final decision
Final decision. The Commission shall present the Commissioner of Banks with a final decision that is in accordance with Chapter 150B of the General Statutes. (1991, c. 680, s. 1; 2001-193, s. 16.)
N.C. Gen. Stat. § 54C-16
Appeal
Appeal. The final decision of the Commission may be appealed in accordance with Chapter 150B of the General Statutes. (1991, c. 680, s. 1.)
N.C. Gen. Stat. § 54C-17
Insurance of accounts required
Insurance of accounts required. A State savings bank shall obtain and maintain insurance on all members' and customers' deposit accounts from an insurance corporation created by an act of Congress. Before the licensing of a savings bank, a certificate of incorporation duly recorded under G.S. 54C-14(c), is deemed to be…
N.C. Gen. Stat. § 54C-19
Time allowed to commence business
Time allowed to commence business. A newly chartered savings bank shall commence business within one year after the date upon which its corporate existence began. A savings bank that does not commence business within this time, shall forfeit its corporate existence, unless the Commissioner of Banks, before the expirati…
N.C. Gen. Stat. § 54C-20
Licensing
Licensing. A newly chartered savings bank is entitled to a license to operate upon payment to the Division of the appropriate license fee as prescribed by the Commissioner of Banks, when it shows to the satisfaction of the Commissioner of Banks evidence of capable, efficient, and equitable management, that the organiza…
N.C. Gen. Stat. § 54C-21
Amendments to certificate of incorporation
Amendments to certificate of incorporation. (a) An amendment to the certificate of incorporation of a State savings bank shall be made at any annual or special meeting of the savings bank, held in accordance with G.S. 54C-106 and G.S. 54C-107, by a majority of votes or shares cast by members or stockholders present in…
N.C. Gen. Stat. § 54C-22
List of stockholders to be maintained
List of stockholders to be maintained. A stock savings bank organized and operated under this Chapter shall, at all times, keep a current list of the names of all its stockholders. Whenever called upon by the Commissioner of Banks, a stock savings bank shall file in the office of the Commissioner of Banks a correct lis…
N.C. Gen. Stat. § 54C-23
Branch offices
Branch offices. (a) A State savings bank may apply to the Commissioner of Banks for permission to establish a branch office. The application shall be in the form prescribed by the Commissioner of Banks and shall be accompanied by the proper branch application fee. The Commissioner of Banks shall approve or deny branch…
N.C. Gen. Stat. § 54C-24
Request to change location of a branch or principal office
Request to change location of a branch or principal office. The board of directors of a State savings bank may change the location of a branch office or the principal office of the savings bank with the prior written approval of the Commissioner of Banks. The Commissioner of Banks may request, and the savings bank shal…
N.C. Gen. Stat. § 54C-25
Approval revoked; branch office
Approval revoked; branch office. The Commission may, for good cause and after a hearing, order the closing of a branch office. The order shall be made in writing to the savings bank and shall fix a reasonable time after which the savings bank shall close the branch office. (1991, c. 680, s. 1.)
N.C. Gen. Stat. § 54C-26
Branch offices closed
Branch offices closed. The Board of a State savings bank may discontinue the operation of a branch office upon giving at least 90 days prior written notice to the Commissioner of Banks and depositors, the notice to include the date upon which the branch office shall be closed. (1991, c. 680, s. 1; 1991 (Reg. Sess., 199…
N.C. Gen. Stat. § 54C-27
Loan production office
Loan production office. A State savings bank may open or close a loan production office with the prior written approval of the Commissioner of Banks. The Commissioner of Banks may request, and the savings bank shall provide, any information that the Commissioner of Banks determines is necessary to evaluate the request.…
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