§ 54B-61 – Test appraisals of collateral for loans; expense paid.
54B-61. Test appraisals of collateral for loans; expense paid. (a) The Commissioner of Banks may direct the making of test appraisals of real estate and other collateral securing loans made by associations doing business in this State, employ competent appraisers, or prescribe a list from which competent appraisers may be selected, for the making of […]
§ 54B-62 – Relationship of savings and loan associations with the Savings Institutions Division.
54B-62. Relationship of savings and loan associations with the Savings Institutions Division. (a) Except as provided by subsection (b) of this section, a savings and loan association or any director, officer, employee, or representative thereof shall not grant or give to any employee of the Savings Institutions Division, or to their spouses, any loan or […]
§ 54B-63 – Confidential information.
54B-63. Confidential information. (a) The following records or information of the Commission, the Commissioner of Banks or the agent(s) of either shall be confidential and shall not be disclosed: (1) Information obtained or compiled in preparation of or anticipation of, or during an examination, audit or investigation of any association; (2) Information reflecting the specific […]
§ 54B-63.1 – Confidential records.
54B-63.1. Confidential records. (a) As used in this section: (1) "Compliance review committee" means: a. An audit, loan review, or compliance committee appointed by the board of directors of an association or any other person to the extent the person acts at the direction of or reports to a compliance review committee; and b. Whose […]
§ 54B-64 – Civil penalties; State associations.
54B-64. Civil penalties; State associations. (a) Except as otherwise provided in this Article, any association which is found to have violated any provision of this Article may be ordered to forfeit and pay a civil penalty of up to twenty thousand dollars ($20,000). Any association which is found to have violated or failed to comply […]
§ 54B-65 – Civil penalties; directors, officers and employees.
54B-65. Civil penalties; directors, officers and employees. (a) Any person, whether a director, officer or employee, who is found to have violated any provision of this Article, whether willfully or as a result of gross negligence, gross incompetency, or recklessness, may be ordered to forfeit and pay a civil penalty of up to five thousand […]
§ 54B-66 – Criminal penalties.
54B-66. Criminal penalties. (a) The provisions of this section shall in no event extend to persons who are found to have acted only with gross negligence, simple negligence, recklessness or incompetence. (b) In addition to any of the other penalties or remedies provided by this Article, the following shall be deemed to be Class 1 […]
§ 54B-67 – Primary jurisdiction.
54B-67. Primary jurisdiction. Whenever an agency of the United States government shall defer to the Commissioner of Banks, or notify the Commissioner of Banks of pending action against an association chartered by this State or fail to exercise its authority over any State-or federally-chartered association doing business in this State, the Commissioner of Banks shall […]
§ 54B-68 – Supervisory control.
54B-68. Supervisory control. (a) Whenever the Commissioner of Banks determines that an association is conducting its business in an unsafe or unsound manner or in any fashion which threatens the financial integrity or sound operation of the association, the Commissioner of Banks may serve a notice of charges on the association, requiring it to show […]
§ 54B-56 – Examinations by Commissioner of Banks; report.
54B-56. Examinations by Commissioner of Banks; report. (a) If at any time the Commissioner of Banks deems it prudent, it shall be his duty to examine and investigate everything relating to the business of a State association or a savings and loan holding company, and to appoint a suitable and competent person to make such […]