In addition to the loans and investments permitted under Article 7 of this Chapter, the assets of a State association in excess of the demands of its members or customers may be invested subject to the approval of the board of directors only as described under the provisions of this Article. (1981, c. 282, s. 3.)

Terms Used In North Carolina General Statutes 54B-180

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Association: includes a State association or a federal association unless limited by use of the words "State" or "federal. See North Carolina General Statutes 54B-4
  • Members: means withdrawable account holders and borrowers in a State mutual association. See North Carolina General Statutes 54B-4
  • 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
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