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2014 North Carolina General Statutes
Chapter 53 - Regulation of Financial Services.
Article 24 - Trust Companies and Interstate Trust Business.
§ 53-343 - Prohibited distributions, acquisitions, liens, or pledges.

NC Gen Stat § 53-343 (2014) What's This?

53-343. Prohibited distributions, acquisitions, liens, or pledges.

A State trust company shall not make any distribution to its shareholders, acquire its own shares, acquire a lien upon its own shares, or pledge its own assets while an order of the Commissioner prohibiting such distributions, acquisitions, liens, or pledges is in effect. (2001-263, s. 1.)


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