§ 53C-9-102 – Distributions; assignments restricted.
53C-9-102. Distributions; assignments restricted. A bank that is in the process of involuntary or voluntary dissolution pursuant to this Article may not make or pay distributions to its shareholders unless the bank has the prior written approval of the Commissioner. No bank shall make any general assignment for the benefit of its creditors except by […]
§ 53C-9-103 – Cancellation of charter.
53C-9-103. Cancellation of charter. Whenever a combination, dissolution, or other transaction occurs by which a bank ceases to exist or ceases to be eligible for a charter, the Commissioner shall by order cancel the bank’s charter and shall publish the order in accordance with G.S. 53-1-4(59). A copy of the order shall be filed by […]
§ 53C-9-201 – Voluntary dissolution prior to receipt of charter.
53C-9-201. Voluntary dissolution prior to receipt of charter. A bank in formation may, prior to issuance of its charter, give notice to the Commissioner and, with the Commissioner’s consent, abandon its application to the Commissioner and dissolve and liquidate by a majority vote of its board of directors and as provided under Chapter 55 of […]
§ 53C-9-202 – Voluntary dissolution.
53C-9-202. Voluntary dissolution. (a) With the approval of the Commissioner, a bank may engage in a voluntary dissolution and liquidation. (b) If, by a majority vote, the board of directors of a bank should determine that in their judgment the bank should be dissolved and liquidated, then the board of directors shall submit immediately to […]
§ 53C-9-203 – Voluntary dissolution and liquidation procedure.
53C-9-203. Voluntary dissolution and liquidation procedure. (a) At the appropriate time, the Commissioner shall do the following: (1) Inform the FDIC and the bank’s federal supervisory agency if other than the FDIC. (2) Select and appoint a receiver or receiver in liquidation, just as if the liquidation were involuntary under G.S. 53C-9-301. (3) Attach a […]
§ 53C-9-101 – Supervisory combinations.
53C-9-101. Supervisory combinations. Notwithstanding any other provision of this Chapter, in order to protect the public, including depositors and creditors of a bank, the Commissioner, upon making a finding that a bank is unable to operate in a safe and sound manner and is not reasonably likely to be able to resume safe and sound […]