PUBLISHED

N.C.G.S. § 53-338

Subordinated notes or debentures.

Effective date: 2026-08-08
Last verified: 2026-08-09
Source: official source
Revision history: view all versions

The amount of any outstanding notes or debentures that are subordinated to creditors or classes of creditors of the State trust company may be treated as equity capital of the State trust company for purposes of determining equity capital adequacy, hazardous condition, or insolvency, and for other purposes, as provided by rules, orders, or declaratory rulings of the Commissioner. (2001-263, s. 1.)