North Carolina General Statutes 54B-55. Power of Commissioner of Banks to promulgate rules and regulations; reproduction of records
(a) The Commissioner of Banks shall have the right, and is empowered, to promulgate rules, instructions and regulations as may be necessary to the discharge of his duties and powers as to savings and loan associations for the supervision and regulation of said associations, and for the protection of the public investing in said savings and loan associations.
(b) Without limiting the generality of the foregoing paragraph, rules, instructions, and regulations may be promulgated with respect to:
(1) Reserve requirements;
Terms Used In North Carolina General Statutes 54B-55
- 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
- Certified copy: means a copy of an original document or paper which has been signed by the person or persons who certify such document to be an exact copy of the original. See North Carolina General Statutes 54B-4
- Commissioner: means the Commissioner of Banks authorized pursuant to Article 2 of Chapter 53C of the N. See North Carolina General Statutes 54B-4
- Control: means the power, directly or indirectly, to direct the management or policies of an association or to vote twenty-five percent (25%) or more of any class of voting securities for an association. See North Carolina General Statutes 54B-4
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- savings and loan association: when used in the General Statutes, shall mean an association and shall be interchangeable. See North Carolina General Statutes 54B-4
- 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
- Withdrawable accounts: means accounts in which a customer or member places funds with an association which may be withdrawn by the account holder. See North Carolina General Statutes 54B-4
(2) Stock ownership and dividends;
(3) Stock transfers;
(4) Incorporators, stockholders, directors, officers and employees of an association;
(5) Bylaws;
(6) Repealed by Session Laws 2001-193, s. 3.
(7) The structure of the office of the Commissioner of Banks;
(8) The operation of associations;
(9) Withdrawable accounts, bonus plans, and contracts for savings programs;
(10) Loans and loan expenses;
(11) Investments;
(12) Forms and definitions;
(13) Types of financial records to be maintained by associations;
(14) Retention periods of various financial records;
(15) Internal control procedures of associations;
(16) Conduct and management of associations;
(17) Chartering and branching;
(18) Liquidations;
(19) Mergers;
(20) Conversions;
(21) Reports which may be required by the Commissioner of Banks;
(22) Conflicts of interest;
(23) Collection of State savings and loan taxes;
(24) Service corporations; and
(25) Savings and loan holding companies.
(c) Repealed by Session Laws 1983, c. 144, s. 14.
(d) Any association may cause any or all records by it to be recorded, copied or reproduced by any photographic, photostatic or miniature photographic process which correctly, accurately, permanently copies, reproduces or forms a medium for copying or reproducing the original record on a film or other durable material.
(e) Any such photographic, photostatic or miniature photographic copy or reproduction shall be deemed to be an original record in all courts and administrative agencies for the purpose of its admissibility in evidence. A facsimile, exemplification or certified copy of any such photographic copy or reproduction shall, for all purposes, be deemed a facsimile, exemplification or certified copy of the original record.
(f) The provisions of this section with reference to the retention and disposition of records shall apply to any federal savings and loan association operating in North Carolina unless in conflict with regulations prescribed by its supervisory authority. (1981, c. 282, s. 3; 1983, c. 144, s. 14; 1989, c. 76, s. 19; 2001-193, ss. 3, 16.)