There Is a Newer Version of the North Carolina General Statutes
  1. 2025 N.C. Gen. Stat.
  2. 2024 N.C. Gen. Stat.
  3. 2023 N.C. Gen. Stat.
  4. 2009 N.C. Gen. Stat. (here)
  5. View All Versions
View Our Newest Version Here

2009 North Carolina Code
Chapter 53 - Banks.
§ 53-49. Suspension of investment and loan limitation.

§ 53‑49.  Suspension of investment and loan limitation.

The board of directors of any bank, may by resolution duly passed at a meeting of the board, request the Commissioner of Banks to suspend temporarily the limitations on loans and investments as the same may apply to any particular loan or investment in excess of the limitations of G.S. 53‑46, 53‑47, and 53‑48 which the bank desires to make. Upon receipt of a duly certified copy of such resolution, the Commissioner of Banks may, in his discretion, suspend the limitations on loans and investments insofar as they would apply to the loan or investment which the bank desires to make: Provided, however, such loan shall be amply secured and shall be for a period not longer than 120 days. (1921, c. 4, s. 30; C.S., s. 220(e); 1931, c. 243, s. 5; 1933, c. 239, s. 1.)

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.