North Carolina General Statutes 54C-163. Net worth requirement
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Terms Used In North Carolina General Statutes 54C-163
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
A savings bank shall maintain net worth in an amount that may be established in the rules of the Commissioner of Banks, but the requirement shall not be less than five percent (5%) of the assets of the savings bank. Upon receipt of a duly certified copy of a resolution by the board of directors of any savings bank requesting a temporary suspension, the Commissioner of Banks may suspend the net worth requirement for a period not longer than six months. (1991, c. 680, s. 1; 2001-193, s. 16.)