North Carolina General Statutes 54B-270. Special conditions
Terms Used In North Carolina General Statutes 54B-270
- 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
- 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
(a) The Commissioner of Banks may require an out-of-state association to designate one of its branches in North Carolina as a “headquarters branch” and may, by rule, require that reports, books, and records required of associations doing business under this Article be available at the designated headquarters branch.
(b) Once an out-of-state association has established at least one branch in North Carolina pursuant to this Article, subsequent applications to establish additional branches shall be considered on the same basis as an application of a State association to establish an additional branch pursuant to N.C. Gen. Stat. § 54B-22
(c) If an out-of-state association establishes a branch or branches by merger with or purchase from an association located in this State, and the out-of-state association and the association located in this State are both owned by the same holding company, any conditions, limitations, or restrictions placed on the holding company, pursuant to Articles 3A and 13 of this Chapter, shall continue to apply to both the acquiring out-of-state association and its holding company. (1993, c. 191, s. 2; 2001-193, s. 16.)