Article

Trust Companies and Interstate Trust Business

N.C. Gen. Stat. § 53-301— Definitions
N.C. Gen. Stat. § 53-302— Title and purposes
N.C. Gen. Stat. § 53-303— Companies authorized to engage in trust business
N.C. Gen. Stat. § 53-304— Activities not requiring a charter, license, or approval
N.C. Gen. Stat. § 53-305— Trust business of State trust institution
N.C. Gen. Stat. § 53-306— Trust business of out-of-state trust institution
N.C. Gen. Stat. § 53-307— Trust business of foreign trust institution
N.C. Gen. Stat. § 53-308— Name of trust institution
N.C. Gen. Stat. § 53-309— Trust deposits of authorized trust institutions
N.C. Gen. Stat. § 53-310— Offices of State trust companies
N.C. Gen. Stat. § 53-311— State trust company principal office
N.C. Gen. Stat. § 53-312— Trust offices; representative trust offices
N.C. Gen. Stat. § 53-313— Out-of-state trust offices and representative trust offices
N.C. Gen. Stat. § 53-314— Trust business through a branch or trust office
N.C. Gen. Stat. § 53-315— Establishing an interstate trust office
N.C. Gen. Stat. § 53-316— Acquiring an interstate trust office
N.C. Gen. Stat. § 53-317— Requirement of notice
N.C. Gen. Stat. § 53-318— Action on notice
N.C. Gen. Stat. § 53-319— Additional trust offices; representative trust offices
N.C. Gen. Stat. § 53-320— Examinations; periodic reports; cooperative agreements; assessment of fees
N.C. Gen. Stat. § 53-321— Enforcement
N.C. Gen. Stat. § 53-322— Notice of transactions that cause a change in control
N.C. Gen. Stat. § 53-323— Foreign trust institution application for trust office or representative trust office
N.C. Gen. Stat. § 53-324— Conditions for approval
N.C. Gen. Stat. § 53-325— Additional trust offices and representative trust offices
N.C. Gen. Stat. § 53-326— Examinations; periodic reports; cooperative agreements; assessment of fees
N.C. Gen. Stat. § 53-327— Enforcement
N.C. Gen. Stat. § 53-328— Notice of transactions that cause a change in control
N.C. Gen. Stat. § 53-329— International agreements
N.C. Gen. Stat. § 53-330— Title and purposes
N.C. Gen. Stat. § 53-331— Organization and powers of State trust company
N.C. Gen. Stat. § 53-332— Articles of incorporation of State trust company
N.C. Gen. Stat. § 53-333— Application for State trust company charter and permission to incorporate State trust company
N.C. Gen. Stat. § 53-334— Notice and investigation of charter application
N.C. Gen. Stat. § 53-335— Decision on charter application and hearing
N.C. Gen. Stat. § 53-336— Issuance of charter
N.C. Gen. Stat. § 53-337— Required initial capital
N.C. Gen. Stat. § 53-338— Subordinated notes or debentures
N.C. Gen. Stat. § 53-339— Application of laws relating to general business corporations
N.C. Gen. Stat. § 53-340— Investment in State trust company facilities
N.C. Gen. Stat. § 53-341— Other real estate
N.C. Gen. Stat. § 53-342— Securities and other investments
N.C. Gen. Stat. § 53-343— Prohibited distributions, acquisitions, liens, or pledges
N.C. Gen. Stat. § 53-344— Subsidiaries
N.C. Gen. Stat. § 53-345— Engaging in commerce prohibited
N.C. Gen. Stat. § 53-346— Lending and lease financing; conversion to State bank
N.C. Gen. Stat. § 53-347— Acquisition of control
N.C. Gen. Stat. § 53-348— Application regarding acquisition of control
N.C. Gen. Stat. § 53-349— Decision on acquisition of control
N.C. Gen. Stat. § 53-350— Appeal
N.C. Gen. Stat. § 53-351— Report of changes in chief executive officer or directors
N.C. Gen. Stat. § 53-352— Board of directors
N.C. Gen. Stat. § 53-353— Required board meetings
N.C. Gen. Stat. § 53-354— Officers
N.C. Gen. Stat. § 53-355— Certain criminal offenses
N.C. Gen. Stat. § 53-356— Responsibility of directors
N.C. Gen. Stat. § 53-357— Record keeping
N.C. Gen. Stat. § 53-358— Bonding requirements; reports of apparent crime
N.C. Gen. Stat. § 53-359— Merger, share exchange, or asset transfer authority
N.C. Gen. Stat. § 53-360— Merger, share exchange, or asset transfer application
N.C. Gen. Stat. § 53-361— Notice and investigation of merger, share exchange, or asset transfer; decision, hearing, and appeal
N.C. Gen. Stat. § 53-362— Appraisal rights of shareholders in mergers, share exchanges, or asset transfers
N.C. Gen. Stat. § 53-363— Private trust companies
N.C. Gen. Stat. § 53-364— Requirements to apply for and maintain status as a private trust company
N.C. Gen. Stat. § 53-365— Conversion to public trust company
N.C. Gen. Stat. § 53-366— Applicability of other laws to authorized trust institutions; status of State trust company
N.C. Gen. Stat. § 53-367— Commissioner shall have supervision over authorized trust institutions and shall examine
N.C. Gen. Stat. § 53-368— Assessment of State trust companies
N.C. Gen. Stat. § 53-369— Administrative orders; penalties for violation; increase of equity capital
N.C. Gen. Stat. § 53-370— Notice and opportunity for hearing
N.C. Gen. Stat. § 53-371— Removal of directors, officers, and employees
N.C. Gen. Stat. § 53-372— Required vote of shareholders
N.C. Gen. Stat. § 53-373— Corporate procedure
N.C. Gen. Stat. § 53-374— Authority to liquidate; publication
N.C. Gen. Stat. § 53-375— Examination and reports
N.C. Gen. Stat. § 53-376— Unclaimed property
N.C. Gen. Stat. § 53-377— When Commissioner may take charge
N.C. Gen. Stat. § 53-378— Directors may act
N.C. Gen. Stat. § 53-379— Notice of seizure; bar to attachment of liens
N.C. Gen. Stat. § 53-380— Notice to trust institutions, corporations, and others holding assets; existing liens
N.C. Gen. Stat. § 53-381— Permission to resume business
N.C. Gen. Stat. § 53-382— Remedy for seizure; answer to notice; injunction; appeal; and motions
N.C. Gen. Stat. § 53-383— Collection of debts and claims; Commissioner succeeds to all property of the State trust company
N.C. Gen. Stat. § 53-384— Bond of the Commissioner; surety; condition; minimum penalty
N.C. Gen. Stat. § 53-385— Inventory
N.C. Gen. Stat. § 53-386— Notice and time for filing claims
N.C. Gen. Stat. § 53-387— Power to reject claims; notice; affidavit of service; action on claims
N.C. Gen. Stat. § 53-388— List of claims presented, copies, and proviso
N.C. Gen. Stat. § 53-389— Declaration of dividends; order of preference in distribution
N.C. Gen. Stat. § 53-390— Deposit of funds collected
N.C. Gen. Stat. § 53-391— Employment of counsel, accountants, and other experts; compensation
N.C. Gen. Stat. § 53-392— Unclaimed dividends held in trust
N.C. Gen. Stat. § 53-393— Action by the Commissioner following full settlement
N.C. Gen. Stat. § 53-394— Annual report of the Commissioner; items included; reports of condition of State trust companies
N.C. Gen. Stat. § 53-395— Compensation of the Commissioner's office
N.C. Gen. Stat. § 53-396— Exclusive method of liquidation
N.C. Gen. Stat. § 53-397— Disposition of books and records
N.C. Gen. Stat. § 53-398— Destruction of books and records
N.C. Gen. Stat. § 53-399— Petition for new trustee
N.C. Gen. Stat. § 53-400— Report to the Secretary of State
N.C. Gen. Stat. § 53-401— Provisions for conservator; duties and powers
N.C. Gen. Stat. § 53-402— Examination
N.C. Gen. Stat. § 53-403— Termination of conservatorship
N.C. Gen. Stat. § 53-404— Rights and liabilities of conservator
N.C. Gen. Stat. § 53-405— Naming of conservator not liquidation
N.C. Gen. Stat. § 53-406— Sale of assets by board of jeopardized State trust company
N.C. Gen. Stat. § 53-407— Authority to act as disbursing agent
N.C. Gen. Stat. § 53-408— Payment to creditors
N.C. Gen. Stat. § 53-409— Issuance of preferred shares by jeopardized trust company
N.C. Gen. Stat. § 53-410— Commissioner to act under authority of the Commission
N.C. Gen. Stat. § 53-411— Rules
N.C. Gen. Stat. § 53-412— Commissioner hearings; appeals
N.C. Gen. Stat. § 53-413— Civil enforcement
N.C. Gen. Stat. § 53-414— Cancellation of charter
N.C. Gen. Stat. § 53-415— Severability
N.C. Gen. Stat. § 53-416— Reserved for future codification purposes
N.C. Gen. Stat. § 53-417— Reserved for future codification purposes
N.C. Gen. Stat. § 53-418— Reserved for future codification purposes
N.C. Gen. Stat. § 53-419— Reserved for future codification purposes
N.C. Gen. Stat. § 53-420— Affiliate transfers authorized; procedure
N.C. Gen. Stat. § 53-421— Objection to affiliate transfer
N.C. Gen. Stat. § 53-422— Effect of affiliate transfer
N.C. Gen. Stat. § 53-423— Trust institution as agent
N.C. Gen. Stat. § 53-424— Construction