North Carolina General Statutes 53C-4-1. Banks – Form of organization
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Terms Used In North Carolina General Statutes 53C-4-1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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
(a) A bank shall be formed as, and shall maintain the form of, a corporation formed under the laws of this State.
(b) The provisions contained in Chapter 55 of the N.C. Gen. Stat. shall apply to banks, except where provisions of this Chapter provide differently or where the Commissioner determines that any provision of Chapter 55 is inconsistent with the business of banking or the safety and soundness of banks. (2012-56, s. 4.)