2009 North Carolina Code
Chapter 53 - Banks.
§ 53-34. Validation of sales by Commissioner of Banks under mortgages, etc., giving banks power of sale.
§ 53‑34. Validation of sales by Commissioner of Banks under mortgages, etc., giving banks power of sale.
Whenever it appears that either the Commissioner of Banks or any liquidating agent appointed pursuant to the provisions of G.S. 53‑20, has undertaken to exercise the power of sale set up in any mortgage, deed of trust, or other written instrument for the security of the payment of money in which any bank then in liquidation was named trustee, the said acts including the acts of resigning the trust, of the Commissioner of Banks and/or liquidating agent appointed as aforesaid, are hereby validated and declared to be of the same force and effect as if done by the bank named as trustee in the mortgage, deed of trust, or other instrument. (1931, c. 132.)
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