North Carolina General Statutes 54C-209. Branch closings
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Terms Used In North Carolina General Statutes 54C-209
- 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
- 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
An out-of-state savings bank that is subject to an order or written agreement revoking its authority to establish or maintain a branch in North Carolina and any State savings bank that is subject to an order or written agreement revoking its authority to establish or maintain a branch in another state shall wind up the business of that branch in an orderly manner that protects the depositors, customers, and creditors of the branch, and that complies with all North Carolina laws and all other applicable laws regarding the closing of the branch. (1993, c. 191, s. 3.)