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

North Carolina Law

N.C.G.S. § 54B-36 — 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.

    (a) Any two or more State mutual associations organized or operating may merge to form a single State stock association. The procedure to effect such a merger and conversion of ownership shall be as follows: (1) The merging associations shall merge (to form a mutual association), as provided under G.S. 54B-35. (2) The surviving association shall then convert to a stock association, as provided under G.S. 54B-33. (b) Any two or more State stock associations organized or operating may merge to form a single mutual association. The procedure to effect such a merger and conversion of ownership shall be as follows: (1) The merging associations shall merge (to form a stock association), as provided under G.S. 54B-35. (2) The surviving association shall then convert to a mutual association, as provided under G.S. 54B-34. (b1) Nothing in this section shall be construed to prevent a simultaneous merger-conversion in subsections (a) and (b) of this section. (c) The Commissioner of Banks may promulgate rules and regulations to facilitate the transition from two or more associations to a single association under a new form of ownership. (1981, c. 282, s. 3; 1985, c. 659, s. 6; 2001-193, s. 16.)