There is a newer version of the North Carolina General Statutes
2012 North Carolina General Statutes
Chapter 53 - Regulation of Financial Services.
Article 24 - Trust Companies and Interstate Trust Business.
- Section 53-301 - Definitions.
- Section 53-302 - Title and purposes.
- Section 53-303 - Companies authorized to engage in trust business.
- Section 53-304 - Activities not requiring a charter, license, or approval.
- Section 53-305 - Trust business of State trust institution.
- Section 53-306 - Trust business of out-of-state trust institution.
- Section 53-307 - Trust business of foreign trust institution.
- Section 53-308 - Name of trust institution.
- Section 53-309 - Trust deposits of authorized trust institutions.
- Section 53-310 - Offices of State trust companies.
- Section 53-311 - State trust company principal office.
- Section 53-312 - Trust offices; representative trust offices.
- Section 53-313 - Out-of-state trust offices and representative trust offices.
- Section 53-314 - Trust business through a branch or trust office.
- Section 53-315 - Establishing an interstate trust office.
- Section 53-316 - Acquiring an interstate trust office.
- Section 53-317 - Requirement of notice.
- Section 53-318 - Action on notice.
- Section 53-319 - Additional trust offices; representative trust offices.
- Section 53-320 - Examinations; periodic reports; cooperative agreements; assessment of fees.
- Section 53-321 - Enforcement.
- Section 53-322 - Notice of transactions that cause a change in control.
- Section 53-323 - Foreign trust institution application for trust office or representative trust office.
- Section 53-324 - Conditions for approval.
- Section 53-325 - Additional trust offices and representative trust offices.
- Section 53-326 - Examinations; periodic reports; cooperative agreements; assessment of fees.
- Section 53-327 - Enforcement.
- Section 53-328 - Notice of transactions that cause a change in control.
- Section 53-329 - International agreements.
- Section 53-330 - Title and purposes.
- Section 53-331 - Organization and powers of State trust company.
- Section 53-332 - Articles of incorporation of State trust company.
- Section 53-333 - Application for State trust company charter and permission to incorporate State trust company.
- Section 53-334 - Notice and investigation of charter application.
- Section 53-335 - Decision on charter application and hearing.
- Section 53-336 - Issuance of charter.
- Section 53-337 - Required initial capital.
- Section 53-338 - Subordinated notes or debentures.
- Section 53-339 - Application of laws relating to general business corporations.
- Section 53-340 - Investment in State trust company facilities.
- Section 53-341 - Other real estate.
- Section 53-342 - Securities and other investments.
- Section 53-343 - Prohibited distributions, acquisitions, liens, or pledges.
- Section 53-344 - Subsidiaries.
- Section 53-345 - Engaging in commerce prohibited.
- Section 53-346 - Lending and lease financing; conversion to State bank.
- Section 53-347 - Acquisition of control.
- Section 53-348 - Application regarding acquisition of control.
- Section 53-349 - Decision on acquisition of control.
- Section 53-350 - Appeal.
- Section 53-351 - Report of changes in chief executive officer or directors.
- Section 53-352 - Board of directors.
- Section 53-353 - Required board meetings.
- Section 53-354 - Officers.
- Section 53-355 - Certain criminal offenses.
- Section 53-356 - Responsibility of directors.
- Section 53-357 - Record keeping.
- Section 53-358 - Bonding requirements; reports of apparent crime.
- Section 53-359 - Merger, share exchange, or asset transfer authority.
- Section 53-360 - Merger, share exchange, or asset transfer application.
- Section 53-361 - Notice and investigation of merger, share exchange, or asset transfer; decision, hearing, and appeal.
- Section 53-362 - Appraisal rights of shareholders in mergers, share exchanges, or asset transfers.
- Section 53-363 - Private trust companies.
- Section 53-364 - Requirements to apply for and maintain status as a private trust company.
- Section 53-365 - Conversion to public trust company.
- Section 53-366 - Applicability of other laws to authorized trust institutions; status of State trust company.
- Section 53-367 - Commissioner shall have supervision over authorized trust institutions and shall examine.
- Section 53-368 - Assessment of State trust companies.
- Section 53-369 - Administrative orders; penalties for violation; increase of equity capital.
- Section 53-370 - Notice and opportunity for hearing.
- Section 53-371 - Removal of directors, officers, and employees.
- Section 53-372 - Required vote of shareholders.
- Section 53-373 - Corporate procedure.
- Section 53-374 - Authority to liquidate; publication.
- Section 53-375 - Examination and reports.
- Section 53-376 - Unclaimed property.
- Section 53-377 - When Commissioner may take charge.
- Section 53-378 - Directors may act.
- Section 53-379 - Notice of seizure; bar to attachment of liens.
- Section 53-380 - Notice to trust institutions, corporations, and others holding assets; existing liens.
- Section 53-381 - Permission to resume business.
- Section 53-382 - Remedy for seizure; answer to notice; injunction; appeal; and motions.
- Section 53-383 - Collection of debts and claims; Commissioner succeeds to all property of the State trust company.
- Section 53-384 - Bond of the Commissioner; surety; condition; minimum penalty.
- Section 53-385 - Inventory.
- Section 53-386 - Notice and time for filing claims.
- Section 53-387 - Power to reject claims; notice; affidavit of service; action on claims.
- Section 53-388 - List of claims presented, copies, and proviso.
- Section 53-389 - Declaration of dividends; order of preference in distribution.
- Section 53-390 - Deposit of funds collected.
- Section 53-391 - Employment of counsel, accountants, and other experts; compensation.
- Section 53-392 - Unclaimed dividends held in trust.
- Section 53-393 - Action by the Commissioner following full settlement.
- Section 53-394 - Annual report of the Commissioner; items included; reports of condition of State trust companies.
- Section 53-395 - Compensation of the Commissioner's office.
- Section 53-396 - Exclusive method of liquidation.
- Section 53-397 - Disposition of books and records.
- Section 53-398 - Destruction of books and records.
- Section 53-399 - Petition for new trustee.
- Section 53-400 - Report to the Secretary of State.
- Section 53-401 - Provisions for conservator; duties and powers.
- Section 53-402 - Examination.
- Section 53-403 - Termination of conservatorship.
- Section 53-404 - Rights and liabilities of conservator.
- Section 53-405 - Naming of conservator not liquidation.
- Section 53-406 - Sale of assets by board of jeopardized State trust company.
- Section 53-407 - Authority to act as disbursing agent.
- Section 53-408 - Payment to creditors.
- Section 53-409 - Issuance of preferred shares by jeopardized trust company.
- Section 53-410 - Commissioner to act under authority of the Commission.
- Section 53-411 - Rules.
- Section 53-412 - Commissioner hearings; appeals.
- Section 53-413 - Civil enforcement.
- Section 53-414 - Cancellation of charter.
- Section 53-415 - Severability.
- Section 53-416 - Reserved for future codification purposes.
- Section 53-417 - Reserved for future codification purposes.
- Section 53-418 - Reserved for future codification purposes.
- Section 53-419 - Reserved for future codification purposes.
- Section 53-420 - Affiliate transfers authorized; procedure.
- Section 53-421 - Objection to affiliate transfer.
- Section 53-422 - Effect of affiliate transfer.
- Section 53-423 - Trust institution as agent.
- Section 53-424 - Construction.
Disclaimer: These codes may not be the most recent version. North Carolina may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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