§ 53C-4-11 – Reserve fund.
53C-4-11. Reserve fund. (a) Each bank shall maintain a reserve fund as follows: (1) If the bank is a member of the Federal Reserve System, it shall maintain a reserve fund in accordance with the requirements of the Federal Reserve Board. (2) All other banks shall maintain a reserve fund as required by the Commissioner. […]
§ 53C-4-12 – Compliance review committee.
53C-4-12. Compliance review committee. (a) For purposes of this section, the following definitions apply: (1) "Compliance review committee" means (i) a bank’s board of directors, (ii) a committee authorized by the bank’s board of directors, or (iii) any other committee or person to the extent the committee or person acts at the direction of or […]
§ 53C-4-13 – Immediate report of changes in directors and certain officers.
53C-4-13. Immediate report of changes in directors and certain officers. Each bank shall report to the Commissioner any changes in its (i) directors, (ii) president, (iii) chief executive officer, (iv) chief financial officer, (v) chief loan officer, or (vi) chief credit officer by the close of the second day on which the bank is open […]
§ 53C-3-5 – Notice; public hearing.
53C-3-5. Notice; public hearing. (a) Not less than 30 days before the public hearing of the Commission to review the Commissioner’s approval of an application, the applicant shall cause to be published a public notice containing the following: (1) A statement that the application has been filed with the Commissioner. (2) The name of the […]
§ 53C-3-6 – Commission decision.
53C-3-6. Commission decision. (a) The Commission shall consider the findings and order of the Commissioner, oral testimony, and any other information and evidence, either written or oral, that comes before it at the public hearing to review the Commissioner’s approval of an application for a charter. The Commission may adjourn and reconvene the public hearing […]
§ 53C-3-7 – Issuance of charter.
53C-3-7. Issuance of charter. (a) A proposed bank shall not engage in business except as allowed under G.S. 53C-3-2(c)(1), until it receives a charter issued by the Commissioner. The Commissioner shall not issue the charter until the Commissioner is satisfied that the proposed bank has done each of the following: (1) Received payment in United […]
§ 53C-4-1 – Banks – Form of organization.
53C-4-1. Banks – Form of organization. (a) A bank shall be formed as, and shall maintain the form of, a corporation formed under the laws of this State. (b) The provisions contained in Chapter 55 of the General Statutes shall apply to banks, except where provisions of this Chapter provide differently or where the Commissioner […]
§ 53C-4-2 – Banks controlled by boards of directors.
53C-4-2. Banks controlled by boards of directors. (a) The corporate powers of a bank shall be exercised by or under the authority of, and the business and affairs of the bank shall be managed by or under the direction of, its board of directors. (b) A bank’s board of directors shall consist of not fewer […]
§ 53C-4-3 – Committees of boards of directors.
53C-4-3. Committees of boards of directors. (a) The board of directors shall appoint, at a minimum, an audit committee, an executive committee, and a loan committee (which may be the executive committee or the board of directors as a whole) and may appoint such other committees as it deems appropriate to provide for the safe […]
§ 53C-4-4 – Minutes of meetings of directors and committees.
53C-4-4. Minutes of meetings of directors and committees. Minutes shall be recorded and retained for all meetings of the board of directors and board committees and kept on file at the bank. The minutes shall show a record of actions taken. (2012-56, s. 4.)