North Carolina General Statutes 54C-203. Conditions for approval
No application by an out-of-state savings bank received under this Article may be finally approved by the Commissioner of Banks unless:
(1) The Commissioner of Banks has received in writing approval of the proposed transaction from the supervisor of the out-of-state savings bank;
Terms Used In North Carolina General Statutes 54C-203
- 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
- Home state: means (i) as to a state-chartered savings bank, the state which granted the savings bank its charter, and (ii) as to a federal savings bank, the state in which the savings bank has its principal office. See North Carolina General Statutes 54C-200
- in writing: may be construed to include printing, engraving, lithographing, and any other mode of representing words and letters: Provided, that in all cases where a written signature is required by law, the same shall be in a proper handwriting, or in a proper mark. See North Carolina General Statutes 12-3
- 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: 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 savings bank supervisor or equivalent state official having primary regulatory authority over an out-of-state savings bank. See North Carolina General Statutes 54C-200
(2) The supervisor of the out-of-state savings bank agrees in writing to share with the Commissioner of Banks examination reports prepared by the supervisor and any other information deemed necessary by the Commissioner of Banks regarding the out-of-state savings bank;
(3) The out-of-state savings bank agrees in writing to make available to the Commissioner of Banks all information that may be required to effectively examine the savings bank;
(4) The out-of-state savings bank agrees in writing that so long as it maintains a branch in North Carolina, it will meet the conditions set forth in this Article and comply with all applicable North Carolina laws and any rules issued thereunder, as well as any orders or directives issued to the savings bank by the Commissioner of Banks;
(5) The home state of the out-of-state savings bank permits savings banks chartered under the laws of this State to establish branches within its border; and
(6) The out-of-state savings bank designates and files with the Office of the Secretary of State a document appointing an agent in this State to receive service of judicial process. (1993, c. 191, s. 3; 2001-193, s. 16.)