PUBLISHED

N.C.G.S. § 53-405

Naming of conservator not liquidation.

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

No power conferred in this Subpart upon the Commissioner, when exercised, shall be deemed as an act of possession for the purposes of liquidation; and whenever the Commissioner shall, with reference to any State trust company for which a conservator is appointed, deem that liquidation is necessary, the Commissioner shall exercise the powers for the purposes of liquidation as provided in Subpart B of Part 5 of this Article. (2001-263, s. 1.)