53C-5-1. Powers. (a) Except as otherwise specifically provided by this Chapter, a bank shall have the powers conferred upon business corporations organized under the laws of this State. In addition, and not by way of limitation, a bank shall have the power to do the following: (1) Carry on the business of banking, which includes […]
53C-5-2. Investment authority. (a) In addition to any powers or investments authorized by any other section of this Chapter, a bank may invest in the following: (1) The shares or other securities of the following: a. Any other depository institution. b. Any industrial bank, bankers’ bank, or other deposit-taking entity chartered or existing under any […]
53C-5-3. Banks, fiduciaries authorized to invest in securities approved by the Secretary of Housing and Urban Development, Federal Housing Administration, Veterans Administration. (a) Insured Mortgages and Obligation of National Mortgage Associations and Federal Home Loan Banks. – It shall be lawful for all commercial and industrial banks, trust companies, building and loan associations, savings and […]
