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North Carolina General Statutes
Chapter 54C: Savings Banks.

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Article 1 - General Provisions. [HTML] [RTF]
G.S. 54C-1§ 54C-1. Title.[HTML] [RTF]
G.S. 54C-2§ 54C-2. Purpose.[HTML] [RTF]
G.S. 54C-3§ 54C-3. Applicability of Chapter.[HTML] [RTF]
G.S. 54C-4§ 54C-4. Definitions and application of terms.[HTML] [RTF]
G.S. 54C-5§ 54C-5. Reserved for future codification purposes.[HTML] [RTF]
Article 2 - Incorporation and Organization. [HTML] [RTF]
G.S. 54C-6§ 54C-6. Hearings.[HTML] [RTF]
G.S. 54C-7§ 54C-7. Application of Chapter on business corporations.[HTML] [RTF]
G.S. 54C-8§ 54C-8. Scope and prohibitions; existing charters; injunctions.[HTML] [RTF]
G.S. 54C-9§ 54C-9. Application to organize a savings bank.[HTML] [RTF]
G.S. 54C-10§ 54C-10. Certificate of incorporation.[HTML] [RTF]
G.S. 54C-11§ 54C-11. Commissioner of Banks to consider application.[HTML] [RTF]
G.S. 54C-12§ 54C-12. Criteria to be met before the Commissioner of Banks may recommend approval of an application.[HTML] [RTF]
G.S. 54C-13§ 54C-13. Commission to review findings and recommendations of Commissioner of Banks.[HTML] [RTF]
G.S. 54C-14§ 54C-14. Grounds for approval or denial of application.[HTML] [RTF]
G.S. 54C-15§ 54C-15. Final decision.[HTML] [RTF]
G.S. 54C-16§ 54C-16. Appeal.[HTML] [RTF]
G.S. 54C-17§ 54C-17. Insurance of accounts required.[HTML] [RTF]
G.S. 54C-18§ 54C-18. Repealed by Session Laws 1999-179, s. 2.[HTML] [RTF]
G.S. 54C-19§ 54C-19. Time allowed to commence business.[HTML] [RTF]
G.S. 54C-20§ 54C-20. Licensing.[HTML] [RTF]
G.S. 54C-21§ 54C-21. Amendments to certificate of incorporation.[HTML] [RTF]
G.S. 54C-22§ 54C-22. List of stockholders to be maintained.[HTML] [RTF]
G.S. 54C-23§ 54C-23. Branch offices.[HTML] [RTF]
G.S. 54C-24§ 54C-24. Request to change location of a branch or principal office.[HTML] [RTF]
G.S. 54C-25§ 54C-25. Approval revoked; branch office.[HTML] [RTF]
G.S. 54C-26§ 54C-26. Branch offices closed.[HTML] [RTF]
G.S. 54C-27§ 54C-27. Loan production office.[HTML] [RTF]
G.S. 54C-28§ 54C-28. Reserved for future codification purposes.[HTML] [RTF]
G.S. 54C-29§ 54C-29. Reserved for future codification purposes.[HTML] [RTF]
Article 3 - Corporate Changes. [HTML] [RTF]
G.S. 54C-30§ 54C-30. Conversion to savings bank.[HTML] [RTF]
G.S. 54C-31§ 54C-31. Conversion from State to federal charter.[HTML] [RTF]
G.S. 54C-32§ 54C-32. Simultaneous charter and ownership conversion.[HTML] [RTF]
G.S. 54C-33§ 54C-33. Conversion of mutual to stock savings bank.[HTML] [RTF]
G.S. 54C-34§ 54C-34. Conversion of stock savings bank to mutual savings bank.[HTML] [RTF]
G.S. 54C-35§ 54C-35. Merger of like savings banks.[HTML] [RTF]
G.S. 54C-36§ 54C-36. Simultaneous conversion/merger.[HTML] [RTF]
G.S. 54C-37§ 54C-37. Merger of mutual and stock savings banks.[HTML] [RTF]
G.S. 54C-38§ 54C-38. Simultaneous merger and conversion.[HTML] [RTF]
G.S. 54C-39§ 54C-39. Merger of federal charters with State savings banks.[HTML] [RTF]
G.S. 54C-40§ 54C-40. Merger of savings banks with banks and associations.[HTML] [RTF]
G.S. 54C-41§ 54C-41. Voluntary dissolution by directors.[HTML] [RTF]
G.S. 54C-42§ 54C-42. Voluntary dissolution by stockholders or members.[HTML] [RTF]
G.S. 54C-43§ 54C-43. Reports of voluntary dissolution.[HTML] [RTF]
G.S. 54C-44§ 54C-44. Stock dividends.[HTML] [RTF]
G.S. 54C-45§ 54C-45. Supervisory mergers, consolidations, conversions, and combination mergers and conversions.[HTML] [RTF]
G.S. 54C-46§ 54C-46. Interim savings banks.[HTML] [RTF]
G.S. 54C-47§ 54C-47. Conversion to bank.[HTML] [RTF]
G.S. 54C-48 through 54C-51§§ 54C-48 through 54C-51. Reserved for future codification purposes.[HTML] [RTF]
Article 4 - Supervision. [HTML] [RTF]
G.S. 54C-52§ 54C-52. Supervision.[HTML] [RTF]
G.S. 54C-53§ 54C-53. Power of Commissioner of Banks to adopt rules and definitions; reproduction of records.[HTML] [RTF]
G.S. 54C-54§ 54C-54. Examinations by Commissioner of Banks; report.[HTML] [RTF]
G.S. 54C-55§ 54C-55. Supervision and examination fees authorized; use of funds collected under Chapter.[HTML] [RTF]
G.S. 54C-56§ 54C-56. Prolonged audit, examination, or revaluation; payment of costs.[HTML] [RTF]
G.S. 54C-57§ 54C-57. Commissioner of Banks to have right of access to books and records of the savings bank; right to issue subpoenas, administer oaths, examine witnesses.[HTML] [RTF]
G.S. 54C-58§ 54C-58. Test appraisals of collateral for loans; expense paid.[HTML] [RTF]
G.S. 54C-59§ 54C-59. Relationship of savings banks with the Savings Institutions Division.[HTML] [RTF]
G.S. 54C-60§ 54C-60. Confidential information.[HTML] [RTF]
G.S. 54C-60.1§ 54C-60.1. Confidential records.[HTML] [RTF]
G.S. 54C-61§ 54C-61. Annual license fees.[HTML] [RTF]
G.S. 54C-62§ 54C-62. Statement filed by savings bank; fees.[HTML] [RTF]
G.S. 54C-63§ 54C-63. Statement examined, approved, and published.[HTML] [RTF]
G.S. 54C-64§ 54C-64. Prohibited practices.[HTML] [RTF]
G.S. 54C-65 through 54C-75§§ 54C-65 through 54C-75. Reserved for future codification purposes.[HTML] [RTF]
Article 5 - Enforcement. [HTML] [RTF]
G.S. 54C-76§ 54C-76. Cease and desist orders.[HTML] [RTF]
G.S. 54C-77§ 54C-77. Civil penalties; State savings banks.[HTML] [RTF]
G.S. 54C-78§ 54C-78. Civil penalties; directors, officers, and employees.[HTML] [RTF]
G.S. 54C-79§ 54C-79. Criminal penalties.[HTML] [RTF]
G.S. 54C-80§ 54C-80. Primary jurisdiction.[HTML] [RTF]
G.S. 54C-81§ 54C-81. Supervisory control.[HTML] [RTF]
G.S. 54C-82§ 54C-82. Removal of directors, officers, and employees.[HTML] [RTF]
G.S. 54C-83§ 54C-83. Involuntary liquidation.[HTML] [RTF]
G.S. 54C-84§ 54C-84. Judicial review.[HTML] [RTF]
G.S. 54C-85§ 54C-85. Indemnity.[HTML] [RTF]
G.S. 54C-86§ 54C-86. Cumulative penalties.[HTML] [RTF]
G.S. 54C-87§ 54C-87. Emergency limitations.[HTML] [RTF]
G.S. 54C-88 through 54C-99§§ 54C-88 through 54C-99. Reserved for future codification purposes.[HTML] [RTF]
Article 6 - Corporate Administration. [HTML] [RTF]
G.S. 54C-100§ 54C-100. Membership of a mutual association.[HTML] [RTF]
G.S. 54C-101§ 54C-101. Directors.[HTML] [RTF]
G.S. 54C-102§ 54C-102. Bylaws.[HTML] [RTF]
G.S. 54C-103§ 54C-103. Duties and liabilities of officers and directors to their associations.[HTML] [RTF]
G.S. 54C-104§ 54C-104. Conflicts of interest.[HTML] [RTF]
G.S. 54C-105§ 54C-105. Voting rights.[HTML] [RTF]
G.S. 54C-106§ 54C-106. Annual meetings notice required.[HTML] [RTF]
G.S. 54C-107§ 54C-107. Special meetings; notice required.[HTML] [RTF]
G.S. 54C-108§ 54C-108. Quorum.[HTML] [RTF]
G.S. 54C-109§ 54C-109. Bonding.[HTML] [RTF]
G.S. 54C-110 through 54C-120§§ 54C-110 through 54C-120. Reserved for future codification purposes.[HTML] [RTF]
Article 7 - Loans and Investments. [HTML] [RTF]
G.S. 54C-121§ 54C-121. Loans.[HTML] [RTF]
G.S. 54C-122§ 54C-122. Lending procedures.[HTML] [RTF]
G.S. 54C-123§ 54C-123. Prohibited security.[HTML] [RTF]
G.S. 54C-124§ 54C-124. Loans conditioned on certain transactions prohibited.[HTML] [RTF]
G.S. 54C-125§ 54C-125. Loan expenses and fees.[HTML] [RTF]
G.S. 54C-126§ 54C-126. Methods of loan repayment.[HTML] [RTF]
G.S. 54C-127§ 54C-127. Insider loans.[HTML] [RTF]
G.S. 54C-128§ 54C-128. Rulemaking power of Commissioner of Banks.[HTML] [RTF]
G.S. 54C-129§ 54C-129. Nonconforming loans and investments.[HTML] [RTF]
G.S. 54C-130§ 54C-130. Limitation on loans to one borrower.[HTML] [RTF]
G.S. 54C-131§ 54C-131. Investment in banking premises.[HTML] [RTF]
G.S. 54C-132§ 54C-132. United States obligations.[HTML] [RTF]
G.S. 54C-133§ 54C-133. North Carolina obligations.[HTML] [RTF]
G.S. 54C-134§ 54C-134. Federal Home Loan Bank obligations.[HTML] [RTF]
G.S. 54C-135§ 54C-135. Deposits in depository institutions.[HTML] [RTF]
G.S. 54C-136§ 54C-136. Federal government-sponsored enterprise obligations.[HTML] [RTF]
G.S. 54C-137§ 54C-137. Municipal and county obligations.[HTML] [RTF]
G.S. 54C-138§ 54C-138. Stock in education agency.[HTML] [RTF]
G.S. 54C-139§ 54C-139. Industrial development corporation stock.[HTML] [RTF]
G.S. 54C-140§ 54C-140. Urban renewal investment corporation stock.[HTML] [RTF]
G.S. 54C-141§ 54C-141. Limitations on investment in stocks and securities.[HTML] [RTF]
G.S. 54C-142§ 54C-142. Suspension of investment and loan limitation.[HTML] [RTF]
G.S. 54C-143§ 54C-143. Commercial lending.[HTML] [RTF]
G.S. 54C-144§ 54C-144. Service corporations.[HTML] [RTF]
G.S. 54C-145§ 54C-145. Parity in loans or investments.[HTML] [RTF]
G.S. 54C-146§ 54C-146. Certain powers granted to State savings banks.[HTML] [RTF]
G.S. 54C-147 through 54C-160§§ 54C-147 through 54C-160. Reserved for future codification purposes.[HTML] [RTF]
Article 8 - Operations. [HTML] [RTF]
G.S. 54C-161§ 54C-161. Generally accepted accounting principles.[HTML] [RTF]
G.S. 54C-162§ 54C-162. Liquidity.[HTML] [RTF]
G.S. 54C-163§ 54C-163. Net worth requirement.[HTML] [RTF]
G.S. 54C-164§ 54C-164. Deposit accounts.[HTML] [RTF]
G.S. 54C-165§ 54C-165. Joint accounts.[HTML] [RTF]
G.S. 54C-166§ 54C-166: Repealed by Session Laws 2011-236, s. 3, effective October 1, 2011.[HTML] [RTF]
G.S. 54C-166.1§ 54C-166.1. Payable on Death (POD) accounts.[HTML] [RTF]
G.S. 54C-167§ 54C-167. Personal agency accounts.[HTML] [RTF]
G.S. 54C-168§ 54C-168. Collection of processing fee for returned checks.[HTML] [RTF]
G.S. 54C-169§ 54C-169. Right of setoff on deposit accounts.[HTML] [RTF]
G.S. 54C-170§ 54C-170. Minors as deposit account holders.[HTML] [RTF]
G.S. 54C-171§ 54C-171. Deposit accounts as deposit of securities.[HTML] [RTF]
G.S. 54C-172§ 54C-172. New account books.[HTML] [RTF]
G.S. 54C-173§ 54C-173. Transfer of deposit accounts.[HTML] [RTF]
G.S. 54C-174§ 54C-174. Authority of power of attorney.[HTML] [RTF]
G.S. 54C-175§ 54C-175. Days and hours of operation.[HTML] [RTF]
G.S. 54C-176§ 54C-176. Power to borrow money.[HTML] [RTF]
G.S. 54C-177§ 54C-177. Authority to join federal reserve bank.[HTML] [RTF]
G.S. 54C-178§ 54C-178. Regional reciprocal acquisitions.[HTML] [RTF]
G.S. 54C-179§ 54C-179. Forced retirement of deposit accounts.[HTML] [RTF]
G.S. 54C-180 through 54C-194§§ 54C-180 through 54C-194. Reserved for future codification purposes.[HTML] [RTF]
Article 9 - Holding Companies. [HTML] [RTF]
G.S. 54C-195§ 54C-195. Holding companies.[HTML] [RTF]
G.S. 54C-196§ 54C-196. Supervision of holding companies.[HTML] [RTF]
G.S. 54C-197§ 54C-197. Reserved for future codification purposes.[HTML] [RTF]
G.S. 54C-198§ 54C-198. Reserved for future codification purposes.[HTML] [RTF]
Article 10 - Savings Bank Interstate Branches. [HTML] [RTF]
G.S. 54C-199§ 54C-199. Title.[HTML] [RTF]
G.S. 54C-200§ 54C-200. Definitions.[HTML] [RTF]
G.S. 54C-201§ 54C-201. Establishment of branches by out-of-state savings banks.[HTML] [RTF]
G.S. 54C-202§ 54C-202. Application requirements.[HTML] [RTF]
G.S. 54C-203§ 54C-203. Conditions for approval.[HTML] [RTF]
G.S. 54C-204§ 54C-204. Special conditions.[HTML] [RTF]
G.S. 54C-205§ 54C-205. Powers.[HTML] [RTF]
G.S. 54C-206§ 54C-206. Establishment of out-of-state branches by State savings banks.[HTML] [RTF]
G.S. 54C-207§ 54C-207. Regulatory and supervisory oversight.[HTML] [RTF]
G.S. 54C-208§ 54C-208. Enforcement.[HTML] [RTF]
G.S. 54C-209§ 54C-209. Branch closings.[HTML] [RTF]
G.S. 54C-210§ 54C-210. Rules.[HTML] [RTF]
G.S. 54C-211§ 54C-211. Appeal of Commissioner of Banks' decision.[HTML] [RTF]
G.S. 54C-212§ 54C-212. Severability.[HTML] [RTF]

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