There is a newer version of the North Carolina General Statutes
2009 North Carolina Code
Chapter 53 - Banks.
§ 53-91.1. Assets to be written off.
§ 53‑91.1. Assets to be written off.
Every bank doing business under this Chapter shall be required to write off any asset, or portion thereof, which, following the most recent report of examination issued by the Commissioner of Banks, is classified as uncollectible. Provided, however, such asset need not be written off if the same is secured by collateral acceptable to the Commissioner. (1991, c. 677, s. 5.)
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