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Terms Used In North Carolina General Statutes 54B-271

  • 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
  • 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
  • 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

An out-of-state association that establishes a branch in North Carolina may engage in all the activities authorized by North Carolina law for a State association except to the extent that such activities have been expressly prohibited by the state supervisor of the out-of-state association or the laws of the out-of-state association‘s home state. (1993, c. 191, s. 2.)