Chapter 54

175 published sections.

Article 8 - Organization and Powers

N.C.G.S. § 54-45 — Application of term.
N.C.G.S. § 54-46 — Incorporation and powers.
N.C.G.S. § 54-47 — Loans.
N.C.G.S. § 54-48 — Reserve associations.
N.C.G.S. § 54-49 — Land Conservation and Development Bureau; land mortgage associations.
N.C.G.S. § 54-50 — Number of incorporators; capital stock.
N.C.G.S. § 54-51 — Incorporation.
N.C.G.S. § 54-52 — Organization.
N.C.G.S. § 54-53 — Corporate powers.
N.C.G.S. § 54-54 — Restrictions.
N.C.G.S. § 54-55 — Mortgage forms; approval.
N.C.G.S. § 54-56 — Repayment of loan and interest.
N.C.G.S. § 54-57 — Terms of payment.
N.C.G.S. § 54-58 — Transfer of mortgaged lands.
N.C.G.S. § 54-59 — Calling in loans before due.
N.C.G.S. § 54-60 — Partial recall of debt.
N.C.G.S. § 54-61 — Foreclosure.
N.C.G.S. § 54-62 — Appraisal of lands.
N.C.G.S. § 54-63 — Preference prohibited; association borrowing money.
N.C.G.S. § 54-64 — Bond issues.
N.C.G.S. § 54-65 — Deed of trust.
N.C.G.S. § 54-66 — Collaterals deposited with State Treasurer.
N.C.G.S. § 54-67 — Redemption of bonds.
N.C.G.S. § 54-68 — Validity of bonds after maturity.
N.C.G.S. § 54-69 — Bonds as payment.
N.C.G.S. § 54-70 — Bonds as investments.
N.C.G.S. § 54-71 — Application of earnings; reserve fund.
N.C.G.S. § 54-72 — Restriction on holding real estate.
N.C.G.S. § 54-73 — Banking laws applicable.

Article 14A - Formation of Credit Union

N.C.G.S. § 54-109.1 — Definition and purposes.
N.C.G.S. § 54-109.2 — Organization procedure.
N.C.G.S. § 54-109.3 — Form of articles and bylaws.
N.C.G.S. § 54-109.4 — Amendments.
N.C.G.S. § 54-109.5 — Use of name exclusive.
N.C.G.S. § 54-109.6 — Office facilities.
N.C.G.S. § 54-109.7 — Conducting business outside this State.

Article 14B - Supervision and Regulation

N.C.G.S. § 54-109.10 — Creation and supervision of Division.
N.C.G.S. § 54-109.11 — Duties of Administrator.
N.C.G.S. § 54-109.12 — Corporations organized hereunder subject to Administrator of Credit Unions; rules and regulations.
N.C.G.S. § 54-109.13 — Revocation of certificate; liquidation.
N.C.G.S. § 54-109.14 — Fees.
N.C.G.S. § 54-109.15 — Reports.
N.C.G.S. § 54-109.16 — Examinations required; payment of cost.
N.C.G.S. § 54-109.17 — Records.
N.C.G.S. § 54-109.18 — Selection of attorneys to handle loan-closing proceedings.
N.C.G.S. § 54-109.19 — Removal of officers.

Article 14C - Powers of Credit Union

N.C.G.S. § 54-109.21 — General powers.
N.C.G.S. § 54-109.22 — Incidental powers.

Article 14D - Membership

N.C.G.S. § 54-109.26 — "Membership" defined.
N.C.G.S. § 54-109.27 — Societies and other associations.
N.C.G.S. § 54-109.28 — Other credit unions.
N.C.G.S. § 54-109.29 — Members who leave field.
N.C.G.S. § 54-109.30 — Liability of shareholders.
N.C.G.S. § 54-109.31 — Meetings of members.

Article 14E - Direction of Affairs

N.C.G.S. § 54-109.35 — Election or appointment of officials.
N.C.G.S. § 54-109.36 — Record of board and committee members.
N.C.G.S. § 54-109.37 — Vacancies.
N.C.G.S. § 54-109.38 — Compensation of officials.
N.C.G.S. § 54-109.39 — Conflicts of interest.
N.C.G.S. § 54-109.40 — Executive officers.
N.C.G.S. § 54-109.41 — Authority of directors.
N.C.G.S. § 54-109.42 — Executive committee.
N.C.G.S. § 54-109.43 — Meetings of directors.
N.C.G.S. § 54-109.44 — Duties of directors.
N.C.G.S. § 54-109.45 — Authority of credit committee.
N.C.G.S. § 54-109.46 — Meetings of credit committee.
N.C.G.S. § 54-109.47 — Loan officers.
N.C.G.S. § 54-109.48 — When credit committee dispensed with.
N.C.G.S. § 54-109.49 — Duties of supervisory committee.

Article 14F - Savings Accounts

N.C.G.S. § 54-109.53 — Shares.
N.C.G.S. § 54-109.54 — Dividends.
N.C.G.S. § 54-109.55 — Deposits.
N.C.G.S. § 54-109.56 — Thrift accounts.
N.C.G.S. § 54-109.57A — Payable on Death (POD) accounts.
N.C.G.S. § 54-109.58 — Joint accounts.
N.C.G.S. § 54-109.59 — Liens.
N.C.G.S. § 54-109.60A — Minors.
N.C.G.S. § 54-109.60B — Accounts opened by adults for minors.
N.C.G.S. § 54-109.61 — Reduction in shares.
N.C.G.S. § 54-109.62 — Payment of balance of deceased person or person under disability to personal representative or guardian.
N.C.G.S. § 54-109.62A — Powers of attorney; notice of revocation; payment after notice.
N.C.G.S. § 54-109.63 — Personal agency accounts.
N.C.G.S. § 54-109.64 — Savings promotion raffles.

Article 14G - Loans

N.C.G.S. § 54-109.65 — Purposes, terms and interest rate.
N.C.G.S. § 54-109.66 — Application.
N.C.G.S. § 54-109.67 — Loan limit.
N.C.G.S. § 54-109.68 — Security.
N.C.G.S. § 54-109.69 — Installments.
N.C.G.S. § 54-109.70 — Line of credit.
N.C.G.S. § 54-109.71 — Other loan programs.

Article 14H - Insurance and Group Purchasing

N.C.G.S. § 54-109.75 — Insurance for members.
N.C.G.S. § 54-109.76 — Liability insurance for officers.
N.C.G.S. § 54-109.77 — Group purchasing.
N.C.G.S. § 54-109.78 — Share and deposit insurance.

Article 14I - Investments

N.C.G.S. § 54-109.82 — Investment of funds.

Article 14J - Reserve Allocations

N.C.G.S. § 54-109.86 — Transfers to regular reserve.
N.C.G.S. § 54-109.87 — Use of regular reserve.
N.C.G.S. § 54-109.88 — "Risk assets" defined.

Article 14K - Change in Corporate Status

N.C.G.S. § 54-109.92 — Suspension and conservation.
N.C.G.S. § 54-109.93 — Liquidation.
N.C.G.S. § 54-109.94 — Merger.
N.C.G.S. § 54-109.95 — Conversion of charter.

Article 14L - Taxation

N.C.G.S. § 54-109.99 — Restriction of taxation.

Article 14M - Confidential Information

N.C.G.S. § 54-109.105 — What information deemed confidential; disclosure; certain information deemed public; exchange of information.

Article 14N - Foreign Credit Unions

N.C.G.S. § 54-109.106 — Foreign Credit Unions.

Article 15A - Corporate Credit Union

N.C.G.S. § 54-110.1 — Definition and purposes.
N.C.G.S. § 54-110.2 — Membership.
N.C.G.S. § 54-110.3 — Charter and name exclusive.
N.C.G.S. § 54-110.4 — Organization.
N.C.G.S. § 54-110.5 — Powers and privileges.
N.C.G.S. § 54-110.6 — Participation in central system.
N.C.G.S. § 54-110.7 — Right of set-off; security interest.
N.C.G.S. § 54-110.8 — Fees.
N.C.G.S. § 54-110.9 — Reserves.
N.C.G.S. § 54-110.10 — Applicability of Article.

Article 16 - Organization of Associations

N.C.G.S. § 54-111 — Nature of the association.
N.C.G.S. § 54-112 — Use of term restricted.
N.C.G.S. § 54-113 — Articles of agreement.
N.C.G.S. § 54-114 — Certificate of incorporation.
N.C.G.S. § 54-115 — Fees for incorporation.
N.C.G.S. § 54-116 — Bylaws adopted.
N.C.G.S. § 54-117 — General corporation law or general nonprofit corporation law applied; dealing in products of, or renting to, nonmembers.
N.C.G.S. § 54-118 — Other corporations admitted.
N.C.G.S. § 54-118.1 — License taxes.
N.C.G.S. § 54-118.2 — Franchise taxes.

Article 17 - Stockholders and Officers

N.C.G.S. § 54-119 — Certificate for stock fully paid.
N.C.G.S. § 54-120 — Ownership of shares limited.
N.C.G.S. § 54-121 — Shares issued on purchase of business.
N.C.G.S. § 54-122 — Absent members voting.
N.C.G.S. § 54-123 — Directors and other officers.

Article 18 - Powers and Duties

N.C.G.S. § 54-124 — Nature of business authorized.
N.C.G.S. § 54-125 — Amendment of articles.
N.C.G.S. § 54-126 — Apportionment of earnings.
N.C.G.S. § 54-127 — Time of allocation.
N.C.G.S. § 54-128 — Annual reports.

Article 19 - Purpose and Organization

N.C.G.S. § 54-129 — Declaration of policy.
N.C.G.S. § 54-130 — Definitions and nature.
N.C.G.S. § 54-131 — Who may organize.
N.C.G.S. § 54-132 — Purposes.
N.C.G.S. § 54-133 — Preliminary investigation.
N.C.G.S. § 54-134 — Articles of incorporation.
N.C.G.S. § 54-135 — Amendments to articles of incorporation.
N.C.G.S. § 54-136 — Bylaws.
N.C.G.S. § 54-137 — General and special meetings; how called.
N.C.G.S. § 54-138 — Conflicting laws not to apply.
N.C.G.S. § 54-139 — Foreign cooperative corporations; limitation on use of word "cooperative."
N.C.G.S. § 54-140 — Association heretofore organized may adopt the provisions of this Subchapter.
N.C.G.S. § 54-141 — Associations not in restraint of trade.
N.C.G.S. § 54-142 — Application of North Carolina Business Corporation Act to cooperative associations with capital stock.
N.C.G.S. § 54-142.1 — Application of Nonprofit Corporation Act to cooperative associations without capital stock.
N.C.G.S. § 54-143 — License taxes.
N.C.G.S. § 54-143.1 — Franchise taxes.
N.C.G.S. § 54-144 — Filing fees.

Article 20 - Members and Officers

N.C.G.S. § 54-145 — Members.
N.C.G.S. § 54-146 — Directors; election.
N.C.G.S. § 54-147 — Election of officers.
N.C.G.S. § 54-148 — Stock; membership certificates; when issued; voting; liability; limitation on transfer of ownership.
N.C.G.S. § 54-149 — Removal of officer or director.
N.C.G.S. § 54-150 — Referendum.

Article 21 - Powers, Duties, and Liabilities

N.C.G.S. § 54-151 — Powers.
N.C.G.S. § 54-152 — Marketing contract.
N.C.G.S. § 54-153 — Purchasing business of other associations, persons, firms, or corporations; payment; stock issued.
N.C.G.S. § 54-154 — Annual reports.
N.C.G.S. § 54-155 — Interest in other corporations or associations.
N.C.G.S. § 54-156 — Contracts and agreements with other associations.
N.C.G.S. § 54-157 — Breach of marketing contract of cooperative association; spreading false reports about the finances or management thereof; misdemeanor.
N.C.G.S. § 54-158 — Cooperative associations may form subsidiaries.

Article 22 - Merger, Consolidation and Other Fundamental Changes

N.C.G.S. § 54-159 — Procedure for merger.
N.C.G.S. § 54-160 — Procedure for consolidation.
N.C.G.S. § 54-161 — Approval of merger or consolidation; abandonment.
N.C.G.S. § 54-162 — Articles of merger or consolidation.
N.C.G.S. § 54-163 — Effect of merger or consolidation.
N.C.G.S. § 54-164 — Merger or consolidation of domestic and foreign associations.
N.C.G.S. § 54-165 — Sale, lease or exchange of assets; mortgage or pledge of assets.
N.C.G.S. § 54-166 — Rights of objecting members.