N.C. Gen. Stat. § 53-161
Examination in connection with license as to solvency
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
The Commissioner of Banks may, at the expense of the trust institution, make or cause to be made an examination of any trust institution, other than a federally chartered trust institution, that applies for or is licensed by the Commissioner of Banks. The Commissioner of Banks may refuse to issue a license to a trust institution that it finds to be in a hazardous condition.
The Commissioner of Banks may, at the expense of the trust institution, make or cause to be made an examination of any trust institution, other than a federally chartered trust institution, that applies for or is licensed by the Commissioner of Banks. The Commissioner of Banks may refuse to issue a license to a trust institution that it finds to be in a hazardous condition.
History
(1945, c. 743, s. 1; 2001-263, s. 3; 2011-339, s. 7.)
Effect of Amendments. - Session Laws 2011-339, s. 7, effective October 1, 2011, and applicable to all trusts created before, on, or after that date, inserted "in connection with license" in the section catchline; rewrote the first sentence, which formerly read: "The Commissioner of Banks shall examine into the solvency of such bank, and shall, if he deem it necessary, at the expense of the bank, make or cause to be made an examination at its home office of its assets and liabilities," deleted the former second sentence, which read: "Examinations of trust institutions other than banks shall be as provided in Article 24 of this Chapter," and added the last sentence.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.