North Carolina General Statutes 53B-9. Duty of financial institutions; fee; limitation of liability
Terms Used In North Carolina General Statutes 53B-9
- Customer: means a person who has transacted business with a financial institution or has used the services offered by a financial institution. See North Carolina General Statutes 53B-2
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Financial institution: means a banking corporation, trust company, savings and loan association, credit union, or other entity principally engaged in the business of lending money or receiving or soliciting money on deposit. See North Carolina General Statutes 53B-2
- Financial record: means an original of, a copy of, or information derived from, a record held by a financial institution pertaining to a customer's relationship with the financial institution and identified with or identifiable with the customer. See North Carolina General Statutes 53B-2
- Government authority: means an agency or department of the State or of any of its political subdivisions, including any officer, employee, or agent thereof. See North Carolina General Statutes 53B-2
- Subpoena: A command to a witness to appear and give testimony.
(a) Upon service of a subpoena or court order pursuant to N.C. Gen. Stat. § 53B-4(1), (3), (9), or (11) and receipt of certification pursuant to N.C. Gen. Stat. § 53B-5(5), or upon receipt of a subpoena pursuant to N.C. Gen. Stat. § 53B-4(13), a financial institution shall locate the financial records requested and prepare to make them available to the government authority seeking access to them. Upon receipt of notice that a customer has challenged the court order or subpoena, the financial institution may suspend its efforts to make the records available until after final disposition of the challenge.
(b) Upon receipt of access to financial records pursuant to N.C. Gen. Stat. § 53B-4(1), (3), (9), (11), or (13), a government authority shall pay the financial institution that provided the financial records a fee for costs directly incurred in assembling and delivering the financial records. The fee shall be at the rate established pursuant to the Right to Financial Privacy Act § 1115(a), 12 U.S.C. § 3415, and 12 C.F.R. § 219, unless waived, in whole or in part, by the financial institution.
(c) A financial institution that discloses a financial record pursuant to this Chapter in good faith reliance upon certification by a government authority pursuant to N.C. Gen. Stat. § 53B-5(5) is not liable for damages resulting from the disclosure. (1985 (Reg. Sess., 1986), c. 1002, s. 1; 2013-337, s. 2(b).)