N.C. Gen. Stat. § 53B-2

Definitions

Redline — June 1, 2021 → current.View current text →

Current — April 1, 2022

As of June 1, 2021

As used in this Chapter, unless the context otherwise requires, the term:

(1) "Customer" means a person who has transacted business with a financial institution or has used the services offered by a financial institution.

(1) “Customer” means a person who has transacted business with a financial institution or has used the services offered by a financial institution.

(2) "Financial institution" means a banking corporation, trust company, savings and loan association, credit union, or other entity principally engaged in the business of lending money or receiving or soliciting money on deposit.

(2) “Financial institution” means a banking corporation, trust company, savings and loan association, credit union, or other entity principally engaged in the business of lending money or receiving or soliciting money on deposit.

(3) "Financial record" means an original of, a copy of, or information derived from, a record held by a financial institution pertaining to a customer's relationship with the financial institution and identified with or identifiable with the customer. Financial record shall not include forged or counterfeit financial instruments or records relating to an account established under a fictitious name or another person's name without proper authorization.

(3) “Financial record” means an original of, a copy of, or information derived from, a record held by a financial institution pertaining to a customer’s relationship with the financial institution and identified with or identifiable with the customer. Financial record shall not include forged or counterfeit financial instruments or records relating to an account established under a fictitious name or another person’s name without proper authorization.

(4) "Government authority" means an agency or department of the State or of any of its political subdivisions, including any officer, employee, or agent thereof.

(4) “Government authority” means an agency or department of the State or of any of its political subdivisions, including any officer, employee, or agent thereof.

(5) "Government inquiry" means a lawful investigation by a government agency or official proceeding inquiring into a violation of, or failure to comply with, any criminal or civil statute, law, or rule.

(5) “Government inquiry” means a lawful investigation by a government agency or official proceeding inquiring into a violation of, or failure to comply with, any criminal or civil statute, law, or rule.

(6) "Supervisory agency" means a State agency or department having the statutory authority to examine the financial condition or business operation of a financial institution.

(6) “Supervisory agency” means a State agency or department having the statutory authority to examine the financial condition or business operation of a financial institution.

History

(1985 (Reg. Sess., 1986), c. 1002, s. 1; 2006-259, s. 14(a).)

Effect of Amendments. - Session Laws 2006-259, s. 14(a), effective October 1, 2006, and applicable to acts committed on or after that date, added the last sentence to subsection (3).

Legal Periodicals. - For article, "Agency Theory: Still Viable? The Impact of National Culture on Corporate Financial Decisions," see 48 Wake Forest L. Rev. 697 (2013).

Opinions of Attorney General

"Customer." - A person whose name has been used without his knowledge or consent in opening an account for unlawful purposes, who has transacted no business through the account, and who has not used the services of the financial institution in connection with the account is not a "customer" of the institution within the meaning of this chapter. See opinion of Attorney General to Ms. Mary Claire McNaught, Public Safety Attorney, 59 N.C.A.G. 4 (1989).

A person who has opened an account at a financial institution in a fictitious name or the name of another person is a "customer" within the meaning of the Financial Privacy Act. See opinion of Attorney General to Ms. Mary C. McNaught, Public Safety Attorney, City of Winston-Salem, 59 N.C.A.G. 4 (1989).

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.