§ 53C-6-3 – Securing deposits.
53C-6-3. Securing deposits. (a) A bank may not create a lien on its assets or otherwise secure the repayment of a deposit, except as authorized or required by this section, other laws of this State, or federal law. (b) A bank may pledge its assets to secure a deposit of the government of this State […]
§ 53C-6-4 – Minors.
53C-6-4. Minors. (a) A bank may issue and operate a deposit account in the name of a minor or in the name of two or more individuals, one or more of whom are minors, and receive payments, pay withdrawals, accept a pledge of the account, issue automated teller machine (ATM) and debit cards, contract for […]
§ 53C-6-6 – Joint accounts.
53C-6-6. Joint accounts. (a) Any two or more individuals may establish a joint deposit account by written contract. The deposit account shall be held for them as joint tenants. The account also may be held pursuant to G.S. 41-2.1 of the General Statutes and have the incidents set forth in that section. If the account […]
§ 53C-4-6 – Liability of directors.
53C-4-6. Liability of directors. (a) The standard of conduct for directors shall be as set forth in G.S. 55-8-30. (b) Any director of any bank who shall knowingly violate, or who shall knowingly permit to be violated by any officers, agents, or employees of the bank, any of the provisions of this Chapter shall be […]
§ 53C-4-7 – Directors may declare distributions.
53C-4-7. Directors may declare distributions. Provided a bank does not make distributions that reduce its capital below its applicable required capital, the board of directors of a bank may declare such distributions as it deems proper. (2012-56, s. 4.)
§ 53C-4-8 – Officers and employees shall give bond.
53C-4-8. Officers and employees shall give bond. (a) A bank shall require security in the form of a bond for the fidelity and faithful performance of duties by its officers and employees. The bond shall be issued by a bonding company authorized to do business in this State and upon such form as may be […]
§ 53C-4-9 – Affiliate transactions.
53C-4-9. Affiliate transactions. A bank may extend credit to, and engage in transactions with, its affiliates, directors, executive officers, principal shareholders, and their respective immediate family members only to the extent permitted by, and subject to such restrictions and conditions as are imposed by, applicable State and federal laws and regulations. (2012-56, s. 4.)
§ 53C-4-10 – Examination of board composition, structure, and conduct.
53C-4-10. Examination of board composition, structure, and conduct. (a) As part of its examinations of a bank, the OCOB may assess the competence, composition, structure, and conduct of such bank’s board of directors, including the following: (1) The number of directors. (2) The independence of directors. (3) The committee structure of the board. (4) The […]
§ 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 […]