North Carolina General Statutes 54B-269. Conditions for approval
No application by an out-of-state association received under this Article may be finally approved by the Commissioner of Banks unless:
(1) The Commissioner of Banks has received in writing approval of the proposed transaction from the supervisor of the out-of-state association;
Terms Used In North Carolina General Statutes 54B-269
- Application: means the completed package of the application to organize a State association, establish a branch office or conversion of structure of a savings and loan association which the Commissioner of Banks considers in making his recommendation. See North Carolina General Statutes 54B-4
- Association: includes a State association or a federal association unless limited by use of the words "State" or "federal. See North Carolina General Statutes 54B-4
- Association: means a savings and loan association and includes a State association or a federal association unless limited by use of the words "State" or "federal". See North Carolina General Statutes 54B-266
- Branch: means a full-service office of an association through which it renders a savings and loan service other than its principal office. See North Carolina General Statutes 54B-266
- Commissioner: means the Commissioner of Banks authorized pursuant to Article 2 of Chapter 53C of the N. See North Carolina General Statutes 54B-4
- Home state: means (i) as to a state association, the state which granted the association its charter, and (ii) as to a federal association, the state in which the association has its principal office. See North Carolina General Statutes 54B-266
- in writing: may be construed to include printing, engraving, lithographing, and any other mode of representing words and letters: Provided, that in all cases where a written signature is required by law, the same shall be in a proper handwriting, or in a proper mark. See North Carolina General Statutes 12-3
- Out-of-state association: means an association chartered by any state other than this State and whose principal office is not within this State. See North Carolina General Statutes 54B-266
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
- Supervisor: means the state association supervisor or equivalent state official having primary regulatory authority over an out-of-state association. See North Carolina General Statutes 54B-266
(2) The supervisor of the out-of-state association agrees in writing to share with the Commissioner of Banks examination reports prepared by the supervisor and any other information deemed necessary by the Commissioner of Banks regarding the out-of-state association;
(3) The out-of-state association agrees in writing to make available to the Commissioner of Banks all information that may be required to effectively examine the association;
(4) The out-of-state association agrees in writing that so long as it maintains a branch in North Carolina, it will meet the conditions set forth in this Article and comply with all applicable North Carolina laws and any rules issued thereunder, as well as any orders or directives issued to the association by the Commissioner of Banks;
(5) The home state of the out-of-state association permits associations chartered under the laws of this State to establish branches within its border; and
(6) The out-of-state association designates and files with the Office of the Secretary of State a document appointing an agent in this State to receive service of judicial process. (1993, c. 191, s. 2; 2001-193, s. 16.)