2005 North Carolina Code - General Statutes § 54C-56. Prolonged audit, examination, or revaluation; payment of costs.

§ 54C‑56.  Prolonged audit, examination, or revaluation; payment of costs.

(a)       If, in the opinion of the Commissioner of Banks, an examination conducted under G.S. 54C‑55 fails to disclose the complete financial condition of a savings bank, the Commissioner of Banks may in order to ascertain its complete financial condition:

(1)       Make an extended audit or examination of the savings bank or cause an audit or examination to be made by an independent auditor; and

(2)       Make an extended revaluation of any of the assets or liabilities of the savings bank or cause an independent appraiser to make a revaluation.

(b)       The Commissioner of Banks shall collect from the savings bank a reasonable sum for actual or necessary expenses of an audit, examination, or revaluation. (1991, c. 680, s. 1; 2001‑193, s. 16.)