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North Carolina General Statutes
Chapter 54B: Savings and Loan Associations.

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Article 1 - General Provisions. [HTML] [RTF]
G.S. 54B-1 54B-1. Title.[HTML] [RTF]
G.S. 54B-2 54B-2. Purpose.[HTML] [RTF]
G.S. 54B-3 54B-3. Applicability of Chapter.[HTML] [RTF]
G.S. 54B-4 54B-4. Definitions and application of terms.[HTML] [RTF]
Article 2 - Incorporation and Organization. [HTML] [RTF]
G.S. 54B-5 54B-5. Severability.[HTML] [RTF]
G.S. 54B-6 54B-6. Hearings.[HTML] [RTF]
G.S. 54B-7 54B-7. Application of Chapter on business corporations.[HTML] [RTF]
G.S. 54B-8 54B-8. Scope and prohibitions; existing charters; injunctions.[HTML] [RTF]
G.S. 54B-9 54B-9. Application to organize a savings and loan association.[HTML] [RTF]
G.S. 54B-10 54B-10. Certificate of incorporation.[HTML] [RTF]
G.S. 54B-11 54B-11. Commissioner of Banks to consider application.[HTML] [RTF]
G.S. 54B-12 54B-12. Criteria to be met before the Commissioner of Banks may recommend approval of an application.[HTML] [RTF]
G.S. 54B-13 54B-13. State Banking Commission to review findings and recommendations of Commissioner of Banks.[HTML] [RTF]
G.S. 54B-14 54B-14. Grounds for approval or denial of application.[HTML] [RTF]
G.S. 54B-15 54B-15. Final decision.[HTML] [RTF]
G.S. 54B-16 54B-16. Appeal.[HTML] [RTF]
G.S. 54B-17 54B-17. Insurance of accounts required.[HTML] [RTF]
G.S. 54B-18 54B-18. Time allowed to commence business.[HTML] [RTF]
G.S. 54B-19 54B-19. Licensing.[HTML] [RTF]
G.S. 54B-20 54B-20. Amendments to certificate of incorporation.[HTML] [RTF]
G.S. 54B-21 54B-21. List of stockholders to be maintained.[HTML] [RTF]
G.S. 54B-22 54B-22. Branch offices.[HTML] [RTF]
G.S. 54B-23 54B-23. Application to change location of a branch or principal office.[HTML] [RTF]
G.S. 54B-24 54B-24. Approval revoked; branch office.[HTML] [RTF]
G.S. 54B-25 54B-25. Branch offices closed.[HTML] [RTF]
G.S. 54B-26 54B-26: Repealed by Session Laws 1991, c. 680, s. 3.[HTML] [RTF]
G.S. 54B-27 through 54B-29 54B-27 through 54B-29. Reserved for future codification purposes.[HTML] [RTF]
Article 3 - Fundamental Changes. [HTML] [RTF]
G.S. 54B-30 54B-30. Conversion from State to federal association.[HTML] [RTF]
G.S. 54B-31 54B-31. Conversion from federal to State association.[HTML] [RTF]
G.S. 54B-32 54B-32. Simultaneous charter and ownership conversion.[HTML] [RTF]
G.S. 54B-33 54B-33. Conversion of mutual to stock association.[HTML] [RTF]
G.S. 54B-34 54B-34. Conversion of stock associations to mutual associations.[HTML] [RTF]
G.S. 54B-34.1 54B-34.1. Conversion to State association.[HTML] [RTF]
G.S. 54B-34.2 54B-34.2. Conversion to bank.[HTML] [RTF]
G.S. 54B-35 54B-35. Merger of like savings and loan associations.[HTML] [RTF]
G.S. 54B-36 54B-36. Merger of associations where ownership is converted.[HTML] [RTF]
G.S. 54B-37 54B-37. Merger of mutual and stock associations.[HTML] [RTF]
G.S. 54B-37.1 54B-37.1. Simultaneous conversion/merger.[HTML] [RTF]
G.S. 54B-38 54B-38. Repealed by Session Laws 1985, c. 659, s. 8.[HTML] [RTF]
G.S. 54B-39 54B-39. Merger of federal with State associations.[HTML] [RTF]
G.S. 54B-40 54B-40. Voluntary dissolution by directors.[HTML] [RTF]
G.S. 54B-41 54B-41. Voluntary dissolution by stockholders or members.[HTML] [RTF]
G.S. 54B-42 54B-42. Rules, regulations and reports of voluntary dissolution.[HTML] [RTF]
G.S. 54B-43 54B-43. Stock dividends.[HTML] [RTF]
G.S. 54B-44 54B-44. Supervisory mergers, consolidations, conversions, and combination mergers and conversions.[HTML] [RTF]
G.S. 54B-45 54B-45. Interim associations.[HTML] [RTF]
G.S. 54B-46 54B-46. Conversion of bank to stock association.[HTML] [RTF]
G.S. 54B-47 54B-47. Merger of banks and associations.[HTML] [RTF]
G.S. 54B-48 54B-48: Reserved for future codification purposes.[HTML] [RTF]
Article 3A - North Carolina Regional Reciprocal Savings and Loan Acquisition Act. [HTML] [RTF]
G.S. 54B-48.1 54B-48.1. Title.[HTML] [RTF]
G.S. 54B-48.2 54B-48.2. Definitions.[HTML] [RTF]
G.S. 54B-48.3 54B-48.3. Acquisitions by Southern Region savings and loan holding companies and Southern Region associations.[HTML] [RTF]
G.S. 54B-48.4 54B-48.4. Exceptions.[HTML] [RTF]
G.S. 54B-48.5 54B-48.5. Prohibitions.[HTML] [RTF]
G.S. 54B-48.6 54B-48.6. Applicable laws, rules and regulations.[HTML] [RTF]
G.S. 54B-48.7 54B-48.7. Appeal of Commissioner of Banks' decision.[HTML] [RTF]
G.S. 54B-48.8 54B-48.8. Periodic reports; interstate agreements.[HTML] [RTF]
G.S. 54B-48.9 54B-48.9. Enforcement.[HTML] [RTF]
G.S. 54B-49 through 54B-51 54B-49 through 54B-51. Reserved for future codification purposes.[HTML] [RTF]
Article 4 - Supervision and Regulation. [HTML] [RTF]
G.S. 54B-52 54B-52. Commissioner of Banks.[HTML] [RTF]
G.S. 54B-53 54B-53: Repealed by Session Laws 2001-193, s. 3.[HTML] [RTF]
G.S. 54B-54 54B-54. Deputy commissioner of Savings Institutions Division.[HTML] [RTF]
G.S. 54B-55 54B-55. Power of Commissioner of Banks to promulgate rules and regulations; reproduction of records.[HTML] [RTF]
G.S. 54B-56 54B-56. Examinations by Commissioner of Banks; report.[HTML] [RTF]
G.S. 54B-57 54B-57. Supervision and examination fees.[HTML] [RTF]
G.S. 54B-58 54B-58. Prolonged audit, examination or revaluation; payment of costs.[HTML] [RTF]
G.S. 54B-59 54B-59. Cease and desist orders.[HTML] [RTF]
G.S. 54B-60 54B-60. Commissioner of Banks to have right of access to books and records of association; right to issue subpoenas, administer oaths, examine witnesses.[HTML] [RTF]
G.S. 54B-61 54B-61. Test appraisals of collateral for loans; expense paid.[HTML] [RTF]
G.S. 54B-62 54B-62. Relationship of savings and loan associations with the Savings Institutions Division.[HTML] [RTF]
G.S. 54B-63 54B-63. Confidential information.[HTML] [RTF]
G.S. 54B-63.1 54B-63.1. Confidential records.[HTML] [RTF]
G.S. 54B-64 54B-64. Civil penalties; State associations.[HTML] [RTF]
G.S. 54B-65 54B-65. Civil penalties; directors, officers and employees.[HTML] [RTF]
G.S. 54B-66 54B-66. Criminal penalties.[HTML] [RTF]
G.S. 54B-67 54B-67. Primary jurisdiction.[HTML] [RTF]
G.S. 54B-68 54B-68. Supervisory control.[HTML] [RTF]
G.S. 54B-69 54B-69. Removal of directors, officers and employees.[HTML] [RTF]
G.S. 54B-70 54B-70. Involuntary liquidation.[HTML] [RTF]
G.S. 54B-71 54B-71. Judicial review.[HTML] [RTF]
G.S. 54B-72 54B-72. Indemnity.[HTML] [RTF]
G.S. 54B-73 54B-73. Cumulative penalties.[HTML] [RTF]
G.S. 54B-74 54B-74. Annual license fees.[HTML] [RTF]
G.S. 54B-75 54B-75. Statement; fees.[HTML] [RTF]
G.S. 54B-76 54B-76. Statement examined, approved, and published.[HTML] [RTF]
G.S. 54B-77 54B-77. Certain powers granted to State associations.[HTML] [RTF]
G.S. 54B-78 54B-78. Prohibited practices.[HTML] [RTF]
G.S. 54B-79 through 54B-99 54B-79 through 54B-99. Reserved for future codification purposes.[HTML] [RTF]
Article 5 - Corporate Administration. [HTML] [RTF]
G.S. 54B-100 54B-100. Membership of a mutual association.[HTML] [RTF]
G.S. 54B-101 54B-101. Directors.[HTML] [RTF]
G.S. 54B-102 54B-102. Employment policies.[HTML] [RTF]
G.S. 54B-103 54B-103. Duties and liabilities of officers and directors to their associations.[HTML] [RTF]
G.S. 54B-104 54B-104. Conflicts of interest.[HTML] [RTF]
G.S. 54B-105 54B-105. Voting rights.[HTML] [RTF]
G.S. 54B-106 54B-106. Annual meetings; notice required.[HTML] [RTF]
G.S. 54B-107 54B-107. Special meetings; notice required.[HTML] [RTF]
G.S. 54B-108 54B-108. Quorum.[HTML] [RTF]
G.S. 54B-109 54B-109. Indemnification.[HTML] [RTF]
G.S. 54B-110 54B-110. Days and hours of operation.[HTML] [RTF]
G.S. 54B-111 through 54B-120 54B-111 through 54B-120. Reserved for future codification purposes.[HTML] [RTF]
Article 6 - Withdrawable Accounts. [HTML] [RTF]
G.S. 54B-121 54B-121. Creation of withdrawable accounts.[HTML] [RTF]
G.S. 54B-122 54B-122. Additional requirements.[HTML] [RTF]
G.S. 54B-123 54B-123. Dividends on withdrawable accounts.[HTML] [RTF]
G.S. 54B-124 54B-124. Withdrawals from withdrawable accounts.[HTML] [RTF]
G.S. 54B-125 54B-125. Emergency limitations.[HTML] [RTF]
G.S. 54B-126 54B-126. Forced retirement of withdrawable accounts.[HTML] [RTF]
G.S. 54B-127 54B-127. Negotiable orders of withdrawal.[HTML] [RTF]
G.S. 54B-128 54B-128. Option on nonnegotiable orders of withdrawal.[HTML] [RTF]
G.S. 54B-129 54B-129. Joint accounts.[HTML] [RTF]
G.S. 54B-130 54B-130: Repealed by Session Laws 2011-236, s. 2, effective October 1, 2011.[HTML] [RTF]
G.S. 54B-130.1 54B-130.1. Payable on Death (POD) accounts.[HTML] [RTF]
G.S. 54B-131 54B-131. Right of setoff on withdrawable accounts.[HTML] [RTF]
G.S. 54B-132 54B-132. Minors as withdrawable account holders; safe deposit box lessees.[HTML] [RTF]
G.S. 54B-133 54B-133. Withdrawable accounts as deposit of securities.[HTML] [RTF]
G.S. 54B-134 54B-134. New account books.[HTML] [RTF]
G.S. 54B-135 54B-135. Transfer of withdrawable accounts.[HTML] [RTF]
G.S. 54B-136 54B-136. Authority of power of attorney.[HTML] [RTF]
G.S. 54B-137 54B-137. Reserved for future codification purposes.[HTML] [RTF]
G.S. 54B-138 54B-138. Reserved for future codification purposes.[HTML] [RTF]
G.S. 54B-139 54B-139. Personal agency accounts.[HTML] [RTF]
G.S. 54B-140 through 54B-146 54B-140 through 54B-146. Reserved for future codification purposes.[HTML] [RTF]
Article 6A - Fee for Returned Checks. [HTML] [RTF]
G.S. 54B-147 54B-147. Collection of processing fee for returned checks.[HTML] [RTF]
G.S. 54B-148 through 54B-149 54B-148 through 54B-149. Reserved for future codification purposes.[HTML] [RTF]
Article 7 - Loans. [HTML] [RTF]
G.S. 54B-150 54B-150. Manner of making loans.[HTML] [RTF]
G.S. 54B-151 54B-151. Permitted loans.[HTML] [RTF]
G.S. 54B-152 54B-152. Real property encumbrances.[HTML] [RTF]
G.S. 54B-153 54B-153. Prohibited security.[HTML] [RTF]
G.S. 54B-154 54B-154. Insider loans.[HTML] [RTF]
G.S. 54B-155 54B-155. Rule-making power of Commissioner of Banks.[HTML] [RTF]
G.S. 54B-156 54B-156. Loan expenses and fees.[HTML] [RTF]
G.S. 54B-157 54B-157. Loans conditioned on certain transactions prohibited.[HTML] [RTF]
G.S. 54B-158 54B-158. Insured or guaranteed loans.[HTML] [RTF]
G.S. 54B-159 54B-159. Purchase of loans.[HTML] [RTF]
G.S. 54B-160 54B-160. Participation in loans.[HTML] [RTF]
G.S. 54B-161 54B-161. Sale of loans.[HTML] [RTF]
G.S. 54B-162 54B-162. Power to borrow money.[HTML] [RTF]
G.S. 54B-163 54B-163. Methods of loan repayment.[HTML] [RTF]
G.S. 54B-164 54B-164. Loans to one borrower.[HTML] [RTF]
G.S. 54B-165 54B-165. Professional services.[HTML] [RTF]
G.S. 54B-166 54B-166. Nonconforming investments.[HTML] [RTF]
G.S. 54B-167 54B-167. Scope of Article.[HTML] [RTF]
G.S. 54B-168 through 54B-179 54B-168 through 54B-179. Reserved for future codification purposes.[HTML] [RTF]
Article 8 - Other Investments. [HTML] [RTF]
G.S. 54B-180 54B-180. Other investments.[HTML] [RTF]
G.S. 54B-181 54B-181. Business property of a State association.[HTML] [RTF]
G.S. 54B-182 54B-182. United States obligations.[HTML] [RTF]
G.S. 54B-183 54B-183. North Carolina obligations.[HTML] [RTF]
G.S. 54B-184 54B-184. Federal Home Loan Bank obligations.[HTML] [RTF]
G.S. 54B-185 54B-185. Deposits in banks.[HTML] [RTF]
G.S. 54B-186 54B-186. Deposits in other associations.[HTML] [RTF]
G.S. 54B-187 54B-187. Fannie Mae obligations.[HTML] [RTF]
G.S. 54B-188 54B-188. Municipal and county obligations.[HTML] [RTF]
G.S. 54B-189 54B-189. Stock in education agency.[HTML] [RTF]
G.S. 54B-190 54B-190. Industrial development corporation stock.[HTML] [RTF]
G.S. 54B-191 54B-191. Urban renewal investment corporation stock.[HTML] [RTF]
G.S. 54B-192 54B-192. Urban renewal projects.[HTML] [RTF]
G.S. 54B-193 54B-193. Loans on sufficient collateral; other investments.[HTML] [RTF]
G.S. 54B-194 54B-194. Service corporations.[HTML] [RTF]
G.S. 54B-195 54B-195. Any loan or investment permitted for federal associations.[HTML] [RTF]
G.S. 54B-196 54B-196. Reserved for future codification purposes.[HTML] [RTF]
G.S. 54B-197 54B-197. Effect of change in law or regulation.[HTML] [RTF]
G.S. 54B-198 through 54B-209 54B-198 through 54B-209. Reserved for future codification purposes.[HTML] [RTF]
Article 9 - Liquidity Fund. [HTML] [RTF]
G.S. 54B-210 54B-210. Components of liquidity fund.[HTML] [RTF]
G.S. 54B-211 54B-211. Renewal of liquidity fund.[HTML] [RTF]
G.S. 54B-212 through 54B-215 54B-212 through 54B-215. Reserved for future codification purposes.[HTML] [RTF]
Article 10 - General Reserve. [HTML] [RTF]
G.S. 54B-216 54B-216. General reserve.[HTML] [RTF]
G.S. 54B-217 through 54B-220 54B-217 through 54B-220. Reserved for future codification purposes.[HTML] [RTF]
Article 11 - Foreign Associations. [HTML] [RTF]
G.S. 54B-221 through 54B-235 54B-221 through 54B-235. Repealed by Session Laws 1983 (Regular Session, 1984), c. 1087, s. 6, effective July 5, 1984.[HTML] [RTF]
Article 12 - Mutual Deposit Guaranty Associations. [HTML] [RTF]
G.S. 54B-236 54B-236. Definitions.[HTML] [RTF]
G.S. 54B-237 54B-237. Organization of a mutual deposit guaranty association.[HTML] [RTF]
G.S. 54B-238 54B-238. Examination and certification by Secretary of Commerce.[HTML] [RTF]
G.S. 54B-239 54B-239. Recordation of articles of incorporation.[HTML] [RTF]
G.S. 54B-240 54B-240. Proposed amendments submitted to Secretary of Commerce.[HTML] [RTF]
G.S. 54B-241 54B-241. Examination and certification of amendments.[HTML] [RTF]
G.S. 54B-242 54B-242. Recordation of amendments.[HTML] [RTF]
G.S. 54B-243 54B-243. Reserve for losses.[HTML] [RTF]
G.S. 54B-244 54B-244. Purposes and powers of mutual deposit guaranty associations.[HTML] [RTF]
G.S. 54B-245 54B-245. Filing of semiannual financial reports; fees.[HTML] [RTF]
G.S. 54B-246 54B-246. Supervision by Secretary of Commerce.[HTML] [RTF]
G.S. 54B-247 54B-247. Special examinations.[HTML] [RTF]
G.S. 54B-248 54B-248. Right to enter and to conduct investigations.[HTML] [RTF]
G.S. 54B-249 54B-249. Removal of officers or employees.[HTML] [RTF]
G.S. 54B-250 through 54B-260 54B-250 through 54B-260. Reserved for future codification purposes.[HTML] [RTF]
Article 13 - Savings and Loan Holding Companies. [HTML] [RTF]
G.S. 54B-261 54B-261. Savings and loan holding companies.[HTML] [RTF]
G.S. 54B-262 54B-262. Supervision of savings and loan holding companies.[HTML] [RTF]
G.S. 54B-263 54B-263. Reserved for future codification purposes.[HTML] [RTF]
G.S. 54B-264 54B-264. Reserved for future codification purposes.[HTML] [RTF]
Article 14 - Savings and Loan Interstate Branches. [HTML] [RTF]
G.S. 54B-265 54B-265. Title.[HTML] [RTF]
G.S. 54B-266 54B-266. Definitions.[HTML] [RTF]
G.S. 54B-267 54B-267. Establishment of branches by out-of-state associations.[HTML] [RTF]
G.S. 54B-268 54B-268. Application requirements.[HTML] [RTF]
G.S. 54B-269 54B-269. Conditions for approval.[HTML] [RTF]
G.S. 54B-270 54B-270. Special conditions.[HTML] [RTF]
G.S. 54B-271 54B-271. Powers.[HTML] [RTF]
G.S. 54B-272 54B-272. Establishment of out-of-state branches by state associations.[HTML] [RTF]
G.S. 54B-273 54B-273. Regulatory and supervisory oversight.[HTML] [RTF]
G.S. 54B-274 54B-274. Enforcement.[HTML] [RTF]
G.S. 54B-275 54B-275. Branch closings.[HTML] [RTF]
G.S. 54B-276 54B-276. Rules.[HTML] [RTF]
G.S. 54B-277 54B-277. Appeal of Commissioner of Banks' decision.[HTML] [RTF]
G.S. 54B-278 54B-278. Severability.[HTML] [RTF]