North Carolina General Statutes 54C-201. Establishment of branches by out-of-state savings banks
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Terms Used In North Carolina General Statutes 54C-201
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Branch: means a full service office of a savings bank through which it renders a savings bank service other than its principal office. See North Carolina General Statutes 54C-200
- Savings bank: means a state savings bank or a federal savings bank, unless limited by use of the words "State" or "federal". See North Carolina General Statutes 54C-200
- State savings bank: means a depository institution chartered under the laws of this State. See North Carolina General Statutes 54C-200
Any out-of-state savings bank that meets the requirements of this Article may establish a branch within North Carolina either by (i) de novo entry; (ii) the purchase of an existing branch; (iii) the purchase of all or substantially all of the assets of a State savings bank located in North Carolina; or (iv) merger or consolidation. (1993, c. 191, s. 3.)