North Carolina General Statutes 54C-56. Prolonged audit, examination, or revaluation; payment of costs
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(a) If, in the opinion of the Commissioner of Banks, an examination conducted under N.C. Gen. Stat. § 54C-55 fails to disclose the complete financial condition of a savings bank, the Commissioner of Banks may in order to ascertain its complete financial condition:
(1) Make an extended audit or examination of the savings bank or cause an audit or examination to be made by an independent auditor; and
Terms Used In North Carolina General Statutes 54C-56
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
(2) Make an extended revaluation of any of the assets or liabilities of the savings bank or cause an independent appraiser to make a revaluation.
(b) The Commissioner of Banks shall collect from the savings bank a reasonable sum for actual or necessary expenses of an audit, examination, or revaluation. (1991, c. 680, s. 1; 2001-193, s. 16.)