North Carolina General Statutes 54C-202. Application requirements
(a) Any out-of-state savings bank desiring to establish a branch office under this Article shall file with the Commissioner of Banks a written application meeting the following requirements:
(1) The out-of-state savings bank shall agree to comply with all the applicable rules and regulations, and informational filing requirements contained in the laws and rules of this State that would apply to a State savings bank engaging in an equivalent form of transaction. Additionally, the Commissioner of Banks shall apply the same standards of approval to the application of the out-of-state savings bank as would apply to an application by a State savings bank for an equivalent form of transaction.
Terms Used In North Carolina General Statutes 54C-202
- Branch: means a full service office of a savings bank through which it renders a savings bank service other than its principal office. See North Carolina General Statutes 54C-200
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
- Savings bank: means a state savings bank or a federal savings bank, unless limited by use of the words "State" or "federal". See North Carolina General Statutes 54C-200
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
- State savings bank: means a depository institution chartered under the laws of this State. See North Carolina General Statutes 54C-200
(2) The out-of-state savings bank shall provide the Commissioner of Banks, in the manner prescribed by the Commissioner of Banks, with such additional information as the Commissioner of Banks deems necessary, to fully evaluate the application.
(3) The out-of-state savings bank shall pay an application fee established by the Commissioner of Banks pursuant to N.C. Gen. Stat. § 54C-9
(4) The out-of-state savings bank shall not commence operations of the branch office until it has received the written approval of the Commissioner of Banks.
(b) The Commissioner of Banks shall act on the application within 90 days of receipt of the completed application. (1993, c. 191, s. 3; 2001-193, s. 16.)