NORTH CAROLINA GENERAL ASSEMBLY

1979 SESSION

 

 

CHAPTER 198

HOUSE BILL 346

 

 

AN ACT TO MAKE CERTAIN TECHNICAL REVISIONS AND ADDITIONS TO THE CREDIT UNION LAW.

 

The General Assembly of North Carolina enacts:

 

Section 1.  The first two sentences of G.S. 54-109.12 are rewritten to read as follows:

"§ 54-109.12.  In addition to any and all other powers, duties and functions vested in the Administrator of Credit Unions under the provisions of this Article, the Administrator of Credit Unions shall have general control, management and supervision over all corporations organized under the provisions of Article 14A. All corporations organized under the provisions of Article 14A shall be subject to the management, control and supervision of the Administrator of Credit Unions as to their conduct, organization, management, business practices and their financial and fiscal matters."

Sec. 2.  This act is effective upon ratification.

In the General Assembly read three times and ratified, this the 26th day of March, 1979.