§ 53C-7-104 – Actions on control transaction applications.
53C-7-104. Actions on control transaction applications. (a) The Commissioner shall examine the proposed control transaction, including the character, competence, and experience of the acquiring person and its proposed management personnel, to determine whether the interests of the customers and communities served by the bank would be adversely affected by the proposed control transaction. Not later […]
§ 53C-7-105 – Appeal.
53C-7-105. Appeal. Any order of the Commissioner denying an application for approval of a control transaction may be appealed to the Commission by the person filing the application denied, as provided in G.S. 53C-2-6. (2012-56, s. 4.)
§ 53C-7-201 – Combination authority.
53C-7-201. Combination authority. With the approval of the Commissioner, a bank may combine with one or more depository institutions or non-depository institutions, provided that the bank is the surviving entity in any combination with a non-depository institution. The application for approval shall be in the form required by the Commissioner and shall be accompanied by […]
§ 53C-7-202 – Combination application and investigation.
53C-7-202. Combination application and investigation. (a) A bank seeking approval of a combination shall file with the Commissioner an application for approval, copies of the agreement under which the bank proposes to effect the combination, and such additional information as the Commissioner shall require by rule or as is required by the Commissioner in connection […]
§ 53C-7-203 – Decision on application.
53C-7-203. Decision on application. Based on the application and the Commissioner’s examination, the Commissioner shall enter an order approving or denying approval of the proposed combination not later than the 60th day following the date the Commissioner notifies the parties that the application is complete, unless extraordinary circumstances require a longer period of review. (2012-56, […]
§ 53C-7-204 – Interim banks.
53C-7-204. Interim banks. The Commissioner may approve an application to organize an interim bank solely for the purpose of effecting a combination under this Article. No interim bank shall transact any business except as is incidental and necessary to its organization and the combination. The Commissioner may set forth in the order approving the organization […]