§ 54B-265 – Title.

54B-265. Title. This Article shall be known and may be cited as the North Carolina Savings and Loan Interstate Branch Act. (1993, c. 191, s. 2.)

§ 54B-266 – Definitions.

54B-266. Definitions. As used in this Article, unless the context clearly requires otherwise, the following definitions apply: (1) Repealed by Session Laws 2004-203, s. 35(a), effective August 17, 2004. (2) "Association" means a savings and loan association and includes a State association or a federal association unless limited by use of the words "State" or […]

§ 54B-267 – Establishment of branches by out-of-state associations.

54B-267. Establishment of branches by out-of-state associations. Any out-of-state association that meets the requirements of this Article may establish a branch within North Carolina either by (i) de novo entry; (ii) the purchase of an existing branch; (iii) the purchase of all or substantially all of the assets of a State association located in North […]

§ 54B-268 – Application requirements.

54B-268. Application requirements. (a) Any out-of-state association desiring to establish a branch office under this Article shall file with the Commissioner of Banks a written application meeting the following requirements: (1) The out-of-state association shall agree to comply with all the applicable rules and regulations, and informational filing requirements contained in the laws and rules […]

§ 54B-269 – Conditions for approval.

54B-269. Conditions for approval. No application by an out-of-state association received under this Article may be finally approved by the Commissioner of Banks unless: (1) The Commissioner of Banks has received in writing approval of the proposed transaction from the supervisor of the out-of-state association; (2) The supervisor of the out-of-state association agrees in writing […]

§ 54B-270 – Special conditions.

54B-270. Special conditions. (a) The Commissioner of Banks may require an out-of-state association to designate one of its branches in North Carolina as a "headquarters branch" and may, by rule, require that reports, books, and records required of associations doing business under this Article be available at the designated headquarters branch. (b) Once an out-of-state […]

§ 54B-271 – Powers.

54B-271. Powers. An out-of-state association that establishes a branch in North Carolina may engage in all the activities authorized by North Carolina law for a State association except to the extent that such activities have been expressly prohibited by the state supervisor of the out-of-state association or the laws of the out-of-state association’s home state. […]

§ 54B-272 – Establishment of out-of-state branches by state associations.

54B-272. Establishment of out-of-state branches by state associations. With the prior consent of the Commissioner of Banks, any association chartered under the laws of North Carolina may establish a branch in any other state in accordance with the laws of such other state. (1993, c. 191, s. 2; 2001-193, s. 16.)

§ 54B-273 – Regulatory and supervisory oversight.

54B-273. Regulatory and supervisory oversight. (a) The Commissioner of Banks may enter into such agreements as necessary regarding the scope, timing, coordination, and frequency of examinations and other supervisory matters, including the sharing of information gathered in such examinations, with other supervisors and federal association regulators. This authority applies to both out-of-state associations and their […]

§ 54B-274 – Enforcement.

54B-274. Enforcement. (a) Any enforcement authority available to the Commissioner of Banks for use against a State association may, subject to the provisions of Chapter 150B of the General Statutes, be used against a branch established under this Article and against the out-of-state association or its parent holding company establishing such branch. (b) The Commissioner […]

§ 54B-275 – Branch closings.

54B-275. Branch closings. An out-of-state association that is subject to an order or written agreement revoking its authority to establish or maintain a branch in North Carolina and any State association that is subject to an order or written agreement revoking its authority to establish or maintain a branch in another state shall wind up […]

§ 54B-276 – Rules.

54B-276. Rules. The Commission may adopt rules as necessary to carry out the provisions of this Article. (1993, c. 191, s. 2.)

§ 54B-277 – Appeal of Commissioner of Banks' decision.

54B-277. Appeal of Commissioner of Banks’ decision. Any aggrieved party in a proceeding under this Article may, within 30 days after final decision of the Commissioner of Banks, appeal such decision to the Commission. The Commission, within 30 days of receipt of the notice of appeal, shall approve, disapprove, or modify the Commissioner of Banks’ […]

§ 54B-278 – Severability.

54B-278. Severability. If any provision of this Article or the application of such provision to any persons or circumstances is found invalid, the remainder of this Article and its application to persons or circumstances other than those as to which it is held invalid, shall not be affected. (1993, c. 191, s. 2.)