Chapter 53

333 published sections.

Article 1A - General Provisions

N.C.G.S. § 53-1.1 — Banking definitions applicable to this Chapter.

Article 11 - Industrial Banks

N.C.G.S. § 53-136 — Industrial bank defined.
N.C.G.S. § 53-137 — Manner of organization.
N.C.G.S. § 53-138 — Corporate title.
N.C.G.S. § 53-139 — Capital stock.
N.C.G.S. § 53-140 — Sales of capital stock; accounting; fees.
N.C.G.S. § 53-141 — Powers.
N.C.G.S. § 53-142 — Restriction on powers.
N.C.G.S. § 53-143 — Investments; securities; loans; limitations.
N.C.G.S. § 53-144 — Supervision and examination.
N.C.G.S. § 53-145 — Sections of general law applicable.

Article 14 - Trust Institutions Acting in a Fiduciary Capacity

N.C.G.S. § 53-158.10 — Definitions.
N.C.G.S. § 53-159 — Trust institution may act as fiduciary.
N.C.G.S. § 53-159.1 — Power of fiduciary or custodian to deposit securities in a clearing corporation.
N.C.G.S. § 53-160 — License to do business.
N.C.G.S. § 53-161 — Examination in connection with license as to solvency.
N.C.G.S. § 53-163 — Clerk of superior court notified of license and revocation.
N.C.G.S. § 53-163.1 — Funds held by a trust institution awaiting investment or distribution.
N.C.G.S. § 53-163.2 — Investments in securities by trust institutions.
N.C.G.S. § 53-163.3 — Fiduciary funds awaiting investment.
N.C.G.S. § 53-163.5 — Establishment of common trust funds.
N.C.G.S. § 53-163.6 — Court accountings.
N.C.G.S. § 53-163.7 — Supervision by State Banking Commission.
N.C.G.S. § 53-163.8 — Uniformity of interpretation.
N.C.G.S. § 53-163.9 — Short title.

Article 15 - North Carolina Consumer Finance Act

N.C.G.S. § 53-164 — Title.
N.C.G.S. § 53-165 — Definitions.
N.C.G.S. § 53-166 — Scope of Article; evasions; penalties; loans in violation of Article void.
N.C.G.S. § 53-167 — Expenses of supervision.
N.C.G.S. § 53-168 — License required; showing of convenience, advantage, and financial responsibility; investigation of applicants; hearings; existing businesses; contents of license; transfer; posting.
N.C.G.S. § 53-169 — Application for license.
N.C.G.S. § 53-170 — Locations; change of ownership or management.
N.C.G.S. § 53-171 — Revocation, suspension, or surrender of license.
N.C.G.S. § 53-172 — Conduct of other business in same office.
N.C.G.S. § 53-173 — Computation of interest; application of payments; limitation on interest after judgment; limitation on interest after maturity of the loan.
N.C.G.S. § 53-175 — Fee for returned checks.
N.C.G.S. § 53-176 — Rates, maturities, and amounts.
N.C.G.S. § 53-177 — Fees.
N.C.G.S. § 53-177.1 — Electronic transaction fees.
N.C.G.S. § 53-178 — No further charges; no splitting contracts; certain contracts void.
N.C.G.S. § 53-180 — Limitations and prohibitions on practices and agreements.
N.C.G.S. § 53-180.1 — Military service members limitation.
N.C.G.S. § 53-181 — Statements and information to be furnished to borrowers; power of attorney or confession of judgment prohibited.
N.C.G.S. § 53-182 — Payment of loans; receipts.
N.C.G.S. § 53-183 — Advertising, broadcasting, etc., false or misleading statements.
N.C.G.S. § 53-184 — Securing of information; records and reports; allocations of expense.
N.C.G.S. § 53-185 — Rules and regulations by Banking Commission and Commissioner.
N.C.G.S. § 53-186 — Commissioner to issue subpoenas, conduct hearings, give publicity to investigations, etc.
N.C.G.S. § 53-187 — Injunctive powers; receivers.
N.C.G.S. § 53-188 — Review of regulations, order or act of Commission or Commissioner.
N.C.G.S. § 53-189 — Insurance.
N.C.G.S. § 53-190 — Loans made elsewhere.
N.C.G.S. § 53-191 — Businesses exempted.

Article 16B - Money Transmitters Act

N.C.G.S. § 53-208.41 — Title.
N.C.G.S. § 53-208.42 — Definitions.
N.C.G.S. § 53-208.43 — License requirement.
N.C.G.S. § 53-208.44 — Exemptions.
N.C.G.S. § 53-208.45 — License application.
N.C.G.S. § 53-208.46 — Minimum net worth.
N.C.G.S. § 53-208.47 — Surety bond.
N.C.G.S. § 53-208.48 — Permissible investments and statutory trust.
N.C.G.S. § 53-208.49 — Application fees and annual assessment.
N.C.G.S. § 53-208.50 — Issuance of license.
N.C.G.S. § 53-208.51 — Prohibited practices.
N.C.G.S. § 53-208.52 — Maintenance of records.
N.C.G.S. § 53-208.53 — Reporting.
N.C.G.S. § 53-208.54 — Notice of Material Event.
N.C.G.S. § 53-208.55 — Examination and investigation authority.
N.C.G.S. § 53-208.56 — Licensure authority.
N.C.G.S. § 53-208.57 — Disciplinary authority.
N.C.G.S. § 53-208.58 — Criminal penalties.
N.C.G.S. § 53-208.59 — Confidentiality.
N.C.G.S. § 53-208.60 — Rules.
N.C.G.S. § 53-208.61 — Service of process.
N.C.G.S. § 53-208.62 — Commissioner's participation in nationwide registry.
N.C.G.S. § 53-208.63 — Severability.
N.C.G.S. § 53-208.64 — Transition.

Article 17 - North Carolina Reciprocal Interstate Banking Act

N.C.G.S. § 53-209 — Title.
N.C.G.S. § 53-210 — Definitions.
N.C.G.S. § 53-211 — Acquisitions by out-of-state bank holding companies.
N.C.G.S. § 53-212.1 — Bank agent for deposit institution affiliate.
N.C.G.S. § 53-213 — Prohibitions.
N.C.G.S. § 53-214 — Applicable laws, rules and regulations.
N.C.G.S. § 53-215 — Appeal of Commissioner's decision.
N.C.G.S. § 53-216 — Periodic reports; interstate agreements.
N.C.G.S. § 53-217 — Enforcement.
N.C.G.S. § 53-218 — Nonseverability.

Article 17B - Interstate Branch Banking

N.C.G.S. § 53-224.9 — Definitions.
N.C.G.S. § 53-224.10 — Purpose.
N.C.G.S. § 53-224.11 — Interstate branching by North Carolina State banks.
N.C.G.S. § 53-224.12 — Interstate branching by de novo entry.
N.C.G.S. § 53-224.13 — Interstate branching through the acquisition of a branch.
N.C.G.S. § 53-224.14 — Requirement of notice and other conditions.
N.C.G.S. § 53-224.15 — Conditions for approval.
N.C.G.S. § 53-224.16 — Powers.
N.C.G.S. § 53-224.17 — Purpose.
N.C.G.S. § 53-224.18 — Authority of State banks to establish interstate branches by merger.
N.C.G.S. § 53-224.19 — Interstate merger transactions and branching permitted.
N.C.G.S. § 53-224.20 — Notice and filing requirements.
N.C.G.S. § 53-224.21 — Conditions for interstate merger prior to June 1, 1997.
N.C.G.S. § 53-224.22 — Powers.
N.C.G.S. § 53-224.23 — Applicability of supervisory authority.
N.C.G.S. § 53-224.24 — Examinations; periodic reports; cooperative agreements; assessment of fees.
N.C.G.S. § 53-224.25 — Enforcement.
N.C.G.S. § 53-224.26 — Rules.
N.C.G.S. § 53-224.27 — Additional branches.
N.C.G.S. § 53-224.28 — Notice of subsequent merger or other change in control.
N.C.G.S. § 53-224.29 — Branch closings.
N.C.G.S. § 53-224.30 — Appeal of Commissioner's decision.
N.C.G.S. § 53-224.31 — Severability.

Article 18A - North Carolina International Banking Act

N.C.G.S. § 53-232.1 — Title and scope.
N.C.G.S. § 53-232.2 — Definitions.
N.C.G.S. § 53-232.3 — Authority to establish and operate federal international bank institutions, international bank branches, international bank agencies, and international representative offices.
N.C.G.S. § 53-232.4 — Application of this Chapter.
N.C.G.S. § 53-232.5 — Application of the North Carolina Business Corporation Act.
N.C.G.S. § 53-232.6 — Requirements for carrying on banking business.
N.C.G.S. § 53-232.7 — Actions against international banking corporations.
N.C.G.S. § 53-232.8 — Application for license.
N.C.G.S. § 53-232.9 — Effect, renewal, and revocation of licenses; permissible activities.
N.C.G.S. § 53-232.10 — Securities, etc., to be held in this State.
N.C.G.S. § 53-232.11 — Financial certification; restrictions on investments, loans, and acceptances.
N.C.G.S. § 53-232.12 — Reports.
N.C.G.S. § 53-232.13 — Dissolution.
N.C.G.S. § 53-232.14 — International representative offices.
N.C.G.S. § 53-232.15 — Rules.
N.C.G.S. § 53-232.16 — Cease and desist.
N.C.G.S. § 53-232.17 — Appeal of Commissioner's decision.

Article 19B - The Secure and Fair Enforcement Mortgage Licensing Act

N.C.G.S. § 53-244.010 — Title.
N.C.G.S. § 53-244.020 — Purpose and construction.
N.C.G.S. § 53-244.030 — Definitions.
N.C.G.S. § 53-244.040 — License and registration requirements.
N.C.G.S. § 53-244.050 — License and registration application; claim of exemption.
N.C.G.S. § 53-244.060 — Issuance of license or registration.
N.C.G.S. § 53-244.070 — Educational requirements for mortgage loan originators.
N.C.G.S. § 53-244.080 — Testing requirements for mortgage loan originators.
N.C.G.S. § 53-244.090 — Application fees.
N.C.G.S. § 53-244.100 — Active license or registration requirements and assignability.
N.C.G.S. § 53-244.100A — Assessments.
N.C.G.S. § 53-244.101 — License and registration renewal.
N.C.G.S. § 53-244.102 — Continuing education for mortgage loan originators.
N.C.G.S. § 53-244.103 — Surety bond requirements.
N.C.G.S. § 53-244.104 — Minimum net worth requirements.
N.C.G.S. § 53-244.105 — Records, addresses, escrow funds, or trust accounts.
N.C.G.S. § 53-244.107 — Unique identifier shown.
N.C.G.S. § 53-244.108 — Reports.
N.C.G.S. § 53-244.109 — Mortgage broker and mortgage lender duties.
N.C.G.S. § 53-244.110 — Licensee duties.
N.C.G.S. § 53-244.111 — Prohibited acts.
N.C.G.S. § 53-244.112 — Criminal penalties for unlicensed activity.
N.C.G.S. § 53-244.113 — Regulatory authority.
N.C.G.S. § 53-244.114 — Licensure and registration authority.
N.C.G.S. § 53-244.115 — Investigation and examination authority.
N.C.G.S. § 53-244.116 — Disciplinary authority.
N.C.G.S. § 53-244.118 — Rulemaking authority; records.
N.C.G.S. § 53-244.119 — Commissioner's participation in nationwide registry.
N.C.G.S. § 53-244.120 — Confidentiality of information.
N.C.G.S. § 53-244.121 — Review by Banking Commission.
N.C.G.S. § 53-244.122 — Emergency powers.
N.C.G.S. § 53-244.141 — Definitions.
N.C.G.S. § 53-244.142 — Applicability and exclusions.
N.C.G.S. § 53-244.143 — Financial condition.
N.C.G.S. § 53-244.144 — Corporate governance.

Article 20 - Refund Anticipation Loan Act

N.C.G.S. § 53-245 — Title and scope.
N.C.G.S. § 53-246 — Definitions.
N.C.G.S. § 53-247 — Registration requirement.
N.C.G.S. § 53-248 — Registration procedure; informal hearing.
N.C.G.S. § 53-249 — Filing and posting of loan fees; disclosures.
N.C.G.S. § 53-250 — Prohibited activities.
N.C.G.S. § 53-251 — Cease and desist; revocation of registration; penalties.
N.C.G.S. § 53-252 — Appeal of Commissioner's decision.
N.C.G.S. § 53-253 — Rules; enforcement.
N.C.G.S. § 53-254 — Exemption.

Article 21 - Reverse Mortgages

N.C.G.S. § 53-255 — Title.
N.C.G.S. § 53-256 — Purpose.
N.C.G.S. § 53-257 — Definitions.
N.C.G.S. § 53-258 — Authority and procedures governing reverse mortgage loans.
N.C.G.S. § 53-259 — Application of rules.
N.C.G.S. § 53-260 — Interest.
N.C.G.S. § 53-261 — Taxes, insurance, and assessments.
N.C.G.S. § 53-262 — Renegotiation of loan; calculation of outstanding balance; prepayment.
N.C.G.S. § 53-263 — Limits on borrowers' liability.
N.C.G.S. § 53-264 — Disclosures of loan terms.
N.C.G.S. § 53-265 — Information required of lender.
N.C.G.S. § 53-266 — Effects of lender's default.
N.C.G.S. § 53-267 — Repayment upon borrower's default.
N.C.G.S. § 53-268 — Time for initiation of foreclosure.
N.C.G.S. § 53-269 — Counseling provisions.
N.C.G.S. § 53-270 — Prohibited acts.
N.C.G.S. § 53-270.1 — Contracts for shared appreciation or shared value.
N.C.G.S. § 53-271 — Commissioner's authority to enforce; penalties.
N.C.G.S. § 53-272 — Appeals.

Article 22 - Check-Cashing Businesses

N.C.G.S. § 53-275 — Definitions.
N.C.G.S. § 53-276 — License required.
N.C.G.S. § 53-277 — Exemptions.
N.C.G.S. § 53-278 — Application for license; investigation; application fee.
N.C.G.S. § 53-279 — Liquid assets required; other qualifications; denial of license; hearing.
N.C.G.S. § 53-280 — Maximum fees for service; fees posted; endorsement of checks cashed.
N.C.G.S. § 53-282 — Record keeping; receipt requirements.
N.C.G.S. § 53-283 — Prohibited practices.
N.C.G.S. § 53-284 — Suspension and revocation of license; grounds; procedure.
N.C.G.S. § 53-285 — Cease and desist orders.
N.C.G.S. § 53-286 — Civil penalties and restitution.
N.C.G.S. § 53-287 — Criminal penalties.
N.C.G.S. § 53-288 — Commissioner to adopt rules.
N.C.G.S. § 53-289 — Commission may review rules, orders, or acts by Commissioner.

Article 23 - Continuity of Contract Under European Monetary Union

N.C.G.S. § 53-295 — Definitions.
N.C.G.S. § 53-296 — Continuity of contract.
N.C.G.S. § 53-297 — Effect of currency substitution on performance.
N.C.G.S. § 53-298 — References to ECU in contracts.
N.C.G.S. § 53-299 — Application.
N.C.G.S. § 53-300 — No application to other currency alteration.

Article 24 - Trust Companies and Interstate Trust Business

N.C.G.S. § 53-301 — Definitions.
N.C.G.S. § 53-302 — Title and purposes.
N.C.G.S. § 53-303 — Companies authorized to engage in trust business.
N.C.G.S. § 53-304 — Activities not requiring a charter, license, or approval.
N.C.G.S. § 53-305 — Trust business of State trust institution.
N.C.G.S. § 53-306 — Trust business of out-of-state trust institution.
N.C.G.S. § 53-307 — Trust business of foreign trust institution.
N.C.G.S. § 53-308 — Name of trust institution.
N.C.G.S. § 53-309 — Trust deposits of authorized trust institutions.
N.C.G.S. § 53-310 — Offices of State trust companies.
N.C.G.S. § 53-311 — State trust company principal office.
N.C.G.S. § 53-312 — Trust offices; representative trust offices.
N.C.G.S. § 53-313 — Out-of-state trust offices and representative trust offices.
N.C.G.S. § 53-314 — Trust business through a branch or trust office.
N.C.G.S. § 53-315 — Establishing an interstate trust office.
N.C.G.S. § 53-316 — Acquiring an interstate trust office.
N.C.G.S. § 53-317 — Requirement of notice.
N.C.G.S. § 53-318 — Action on notice.
N.C.G.S. § 53-319 — Additional trust offices; representative trust offices.
N.C.G.S. § 53-320 — Examinations; periodic reports; cooperative agreements; assessment of fees.
N.C.G.S. § 53-321 — Enforcement.
N.C.G.S. § 53-322 — Notice of transactions that cause a change in control.
N.C.G.S. § 53-323 — Foreign trust institution application for trust office or representative trust office.
N.C.G.S. § 53-324 — Conditions for approval.
N.C.G.S. § 53-325 — Additional trust offices and representative trust offices.
N.C.G.S. § 53-326 — Examinations; periodic reports; cooperative agreements; assessment of fees.
N.C.G.S. § 53-327 — Enforcement.
N.C.G.S. § 53-328 — Notice of transactions that cause a change in control.
N.C.G.S. § 53-329 — International agreements.
N.C.G.S. § 53-330 — Title and purposes.
N.C.G.S. § 53-331 — Organization and powers of State trust company.
N.C.G.S. § 53-332 — Articles of incorporation of State trust company.
N.C.G.S. § 53-333 — Application for State trust company charter and permission to incorporate State trust company.
N.C.G.S. § 53-334 — Notice and investigation of charter application.
N.C.G.S. § 53-335 — Decision on charter application and hearing.
N.C.G.S. § 53-336 — Issuance of charter.
N.C.G.S. § 53-337 — Required initial capital.
N.C.G.S. § 53-338 — Subordinated notes or debentures.
N.C.G.S. § 53-339 — Application of laws relating to general business corporations.
N.C.G.S. § 53-340 — Investment in State trust company facilities.
N.C.G.S. § 53-341 — Other real estate.
N.C.G.S. § 53-342 — Securities and other investments.
N.C.G.S. § 53-343 — Prohibited distributions, acquisitions, liens, or pledges.
N.C.G.S. § 53-344 — Subsidiaries.
N.C.G.S. § 53-345 — Engaging in commerce prohibited.
N.C.G.S. § 53-346 — Lending and lease financing; conversion to State bank.
N.C.G.S. § 53-347 — Acquisition of control.
N.C.G.S. § 53-348 — Application regarding acquisition of control.
N.C.G.S. § 53-349 — Decision on acquisition of control.
N.C.G.S. § 53-350 — Appeal.
N.C.G.S. § 53-351 — Report of changes in chief executive officer or directors.
N.C.G.S. § 53-352 — Board of directors.
N.C.G.S. § 53-353 — Required board meetings.
N.C.G.S. § 53-354 — Officers.
N.C.G.S. § 53-355 — Certain criminal offenses.
N.C.G.S. § 53-356 — Responsibility of directors.
N.C.G.S. § 53-357 — Record keeping.
N.C.G.S. § 53-358 — Bonding requirements; reports of apparent crime.
N.C.G.S. § 53-359 — Merger, share exchange, or asset transfer authority.
N.C.G.S. § 53-360 — Merger, share exchange, or asset transfer application.
N.C.G.S. § 53-361 — Notice and investigation of merger, share exchange, or asset transfer; decision, hearing, and appeal.
N.C.G.S. § 53-362 — Appraisal rights of shareholders in mergers, share exchanges, or asset transfers.
N.C.G.S. § 53-363 — Private trust companies.
N.C.G.S. § 53-364 — Requirements to apply for and maintain status as a private trust company.
N.C.G.S. § 53-365 — Conversion to public trust company.
N.C.G.S. § 53-366 — Applicability of other laws to authorized trust institutions; status of State trust company.
N.C.G.S. § 53-367 — Commissioner shall have supervision over authorized trust institutions and shall examine.
N.C.G.S. § 53-368 — Assessment of State trust companies.
N.C.G.S. § 53-369 — Administrative orders; penalties for violation; increase of equity capital.
N.C.G.S. § 53-370 — Notice and opportunity for hearing.
N.C.G.S. § 53-371 — Removal of directors, officers, and employees.
N.C.G.S. § 53-372 — Required vote of shareholders.
N.C.G.S. § 53-373 — Corporate procedure.
N.C.G.S. § 53-374 — Authority to liquidate; publication.
N.C.G.S. § 53-375 — Examination and reports.
N.C.G.S. § 53-376 — Unclaimed property.
N.C.G.S. § 53-377 — When Commissioner may take charge.
N.C.G.S. § 53-378 — Directors may act.
N.C.G.S. § 53-379 — Notice of seizure; bar to attachment of liens.
N.C.G.S. § 53-380 — Notice to trust institutions, corporations, and others holding assets; existing liens.
N.C.G.S. § 53-381 — Permission to resume business.
N.C.G.S. § 53-382 — Remedy for seizure; answer to notice; injunction; appeal; and motions.
N.C.G.S. § 53-383 — Collection of debts and claims; Commissioner succeeds to all property of the State trust company.
N.C.G.S. § 53-384 — Bond of the Commissioner; surety; condition; minimum penalty.
N.C.G.S. § 53-385 — Inventory.
N.C.G.S. § 53-386 — Notice and time for filing claims.
N.C.G.S. § 53-387 — Power to reject claims; notice; affidavit of service; action on claims.
N.C.G.S. § 53-388 — List of claims presented, copies, and proviso.
N.C.G.S. § 53-389 — Declaration of dividends; order of preference in distribution.
N.C.G.S. § 53-390 — Deposit of funds collected.
N.C.G.S. § 53-391 — Employment of counsel, accountants, and other experts; compensation.
N.C.G.S. § 53-392 — Unclaimed dividends held in trust.
N.C.G.S. § 53-393 — Action by the Commissioner following full settlement.
N.C.G.S. § 53-394 — Annual report of the Commissioner; items included; reports of condition of State trust companies.
N.C.G.S. § 53-395 — Compensation of the Commissioner's office.
N.C.G.S. § 53-396 — Exclusive method of liquidation.
N.C.G.S. § 53-397 — Disposition of books and records.
N.C.G.S. § 53-398 — Destruction of books and records.
N.C.G.S. § 53-399 — Petition for new trustee.
N.C.G.S. § 53-400 — Report to the Secretary of State.
N.C.G.S. § 53-401 — Provisions for conservator; duties and powers.
N.C.G.S. § 53-402 — Examination.
N.C.G.S. § 53-403 — Termination of conservatorship.
N.C.G.S. § 53-404 — Rights and liabilities of conservator.
N.C.G.S. § 53-405 — Naming of conservator not liquidation.
N.C.G.S. § 53-406 — Sale of assets by board of jeopardized State trust company.
N.C.G.S. § 53-407 — Authority to act as disbursing agent.
N.C.G.S. § 53-408 — Payment to creditors.
N.C.G.S. § 53-409 — Issuance of preferred shares by jeopardized trust company.
N.C.G.S. § 53-410 — Commissioner to act under authority of the Commission.
N.C.G.S. § 53-411 — Rules.
N.C.G.S. § 53-412 — Commissioner hearings; appeals.
N.C.G.S. § 53-413 — Civil enforcement.
N.C.G.S. § 53-414 — Cancellation of charter.
N.C.G.S. § 53-415 — Severability.
N.C.G.S. § 53-420 — Affiliate transfers authorized; procedure.
N.C.G.S. § 53-421 — Objection to affiliate transfer.
N.C.G.S. § 53-422 — Effect of affiliate transfer.
N.C.G.S. § 53-423 — Trust institution as agent.
N.C.G.S. § 53-424 — Construction.

Article 25 - Asset-Backed Securities Facilitation

N.C.G.S. § 53-425 — Definitions.
N.C.G.S. § 53-426 — Waiver of equity of redemption.