PUBLISHED

N.C.G.S. § 54C-176

Power to borrow money.

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

A savings bank, in its certificate of incorporation or in its bylaws, may authorize the board of directors to borrow money, and the board of directors may, by resolution adopted by a vote of at least two-thirds of the entire board duly recorded in the minutes, authorize the officers of the savings bank to borrow money for the savings bank on any terms and conditions as the board may deem proper. (1991, c. 680, s. 1.)