§ 53-396 – Exclusive method of liquidation.
53-396. Exclusive method of liquidation. No State trust company shall be liquidated other than as provided in this Part. (2001-263, s. 1.)
§ 53-397 – Disposition of books and records.
53-397. Disposition of books and records. All fiduciary records relating to the administration of particular accounts shall be turned over to the successors in charge of administration of the accounts. All other books, papers, and records of a State trust company that has been finally liquidated shall be deposited by the receiver in the office […]
§ 53-398 – Destruction of books and records.
53-398. Destruction of books and records. (a) After the expiration of five years from the date of filing, in the office of the clerk of the superior court of the county in which the action is pending, of a final order approving the liquidation of a State trust company and the delivery to the clerk […]
§ 53-399 – Petition for new trustee.
53-399. Petition for new trustee. Any person interested in any account, either as trustee, beneficiary, client, or otherwise, may petition the clerk of superior court of the county in which court accountings are filed or, if there is no such county, the county in which the account is being administered, for a new trustee or […]
§ 53-400 – Report to the Secretary of State.
53-400. Report to the Secretary of State. The Commissioner shall, on or before the first day of each year, file with the Secretary of State a report showing any State trust companies under liquidation in this State and the names of any auditors or attorneys employed in connection with the liquidation of these State trust […]
§ 53-401 – Provisions for conservator; duties and powers.
53-401. Provisions for conservator; duties and powers. Whenever the Commissioner deems it necessary in order to conserve the assets of a State trust company for the benefit of clients or creditors, the Commissioner may appoint a conservator for the State trust company and require of the conservator a bond with any surety the Commissioner deems […]
§ 53-402 – Examination.
53-402. Examination. The Commissioner shall examine the affairs of a State trust company placed under conservatorship in the manner deemed necessary by the Commissioner to oversee the conservatorship. (2001-263, s. 1.)
§ 53-393 – Action by the Commissioner following full settlement.
53-393. Action by the Commissioner following full settlement. Whenever the Commissioner has paid all duly proven and allowed claims described in subdivisions (a)(1) through (a)(4) of G.S. 53-389, has made proper provision for unclaimed and unpaid and disputed claims, and has other assets of the State trust company, the Commissioner shall, unless the State trust […]
§ 53-383 – Collection of debts and claims; Commissioner succeeds to all property of the State trust company.
53-383. Collection of debts and claims; Commissioner succeeds to all property of the State trust company. (a) Upon taking possession of the assets and business of any State trust company, the Commissioner is authorized to collect all money due the State trust company and to do any other acts necessary to conserve its assets and […]
§ 53-384 – Bond of the Commissioner; surety; condition; minimum penalty.
53-384. Bond of the Commissioner; surety; condition; minimum penalty. Upon taking possession of any State trust company, the Commissioner shall execute and file a bond payable to this State for the benefit of creditors, clients, and shareholders of the State trust company, with some surety company as surety thereon, with the clerk of the superior […]