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A public reference institution of the State of North Carolina's law

North Carolina Law

N.C.G.S. § 53-377 — revision history

Text is never overwritten. Each amendment lands as a new version row with its own effective range.

  1. Version 1 — 2026-08-08 to present

    Scraped from ncleg.gov; The General Statutes include changes through S.L. 2026-7.

    The Commissioner may take possession of the business and property of any State trust company whenever it appears that the trust company: (1) Is in a hazardous condition; (2) Has become insolvent or is in substantial danger of becoming insolvent; (3) Has sold or attempted to sell substantially all of its assets or has merged or attempted to merge its business with another entity without meeting the requirements of this Article; (4) Has dissolved or liquidated or attempted to dissolve or liquidate without meeting the requirements of this Article; or (5) Has suspended operations. (2001-263, s. 1.)