Company: North Carolina General Assembly

§ 53C‑9‑402.  Storage and destruction of records.
(a)	Any record of a bank that is in or has completed the process of dissolution and liquidation may be kept in compliance with the provisions of G.S. 53C‑6‑14.
(b)	All records of a bank that has completed the process of dissolution and liquidation shall be held in such place as in the Commissioner's judgment will provide for their proper safekeeping and protection.
(c)	After the expiration of five years from the date of filing of the certificate of completed liquidation under G.S. 53C‑9‑301, the records of the liquidated bank may be destroyed by the Commissioner using commercially reasonable record destruction procedures.
(d)	Nothing in this section shall be construed to authorize the destruction by the Commissioner of any of the records of the OCOB made by it with reference to the dissolution, receivership, or liquidation of any bank.  (2012‑56, s. 4.)

G.S. 53C-9-402	Page