2009 North Carolina Code
Chapter 53 - Banks.
§ 53-19. When Commissioner of Banks may take charge.

§ 53‑19.  When Commissioner of Banks may take charge.

The Commissioner of Banks may forthwith take possession of the business and property of any bank to which this Chapter is applicable whenever it shall appear that such bank:

(1)        Has violated its charter or any laws applicable thereto;

(2)        Is conducting its business in an unauthorized or unsafe manner;

(3)        Is in an unsafe or unsound condition to transact its business;

(4)        Has an impairment of its capital stock;

(5)        Has refused to pay its depositors in accordance with the terms on which such deposits were received, or has refused to pay its holders of certificates of indebtedness or investment in accordance with the terms upon which such certificates of indebtedness or investment were sold;

(6)        Has become otherwise insolvent;

(7)        Has neglected or refused to comply with the terms of a duly issued lawful order of the Commissioner of Banks;

(8)        Has refused, upon proper demand, to submit its records, affairs, and concerns for inspection and examination of a duly appointed or authorized examiner of the Commissioner of Banks;

(9)        Its officers have refused to be examined upon oath regarding its affairs; or

(10)      Has made a voluntary assignment of its assets to trustees.

Such banks may resume business as provided in G.S. 53‑37. (1911, c. 25, s. 4; 1921, c. 4, s. 16; C.S., ss. 218(b), 242; 1931, c. 243, s. 5; 1995, c. 129, s. 3.)