(a)        Any North Carolina association that is controlled by a savings and loan holding company that is not a North Carolina savings and loan holding company shall be subject to all laws of this State and all rules and regulations under such laws that are applicable to North Carolina associations that are controlled by North Carolina savings and loan holding companies.

(b)        The Commissioner of Banks may promulgate rules, including the imposition of a reasonable application and administration fee, to implement and effectuate the provisions of this Article. (1983 (Reg. Sess., 1984), c. 1087, s. 1; 2001-193, s. 16.)

Terms Used In North Carolina General Statutes 54B-48.6

  • Application: means the completed package of the application to organize a State association, establish a branch office or conversion of structure of a savings and loan association which the Commissioner of Banks considers in making his recommendation. See North Carolina General Statutes 54B-4
  • Association: means a mutual or capital stock savings and loan association, building and loan association or savings bank chartered under the laws of any one of the states or under the laws of the United States. See North Carolina General Statutes 54B-48.2
  • Commissioner: means the Commissioner of Banks authorized pursuant to Article 2 of Chapter 53C of the General Statutes. See North Carolina General Statutes 54B-4
  • Company: means that which is set forth in the Federal Savings and Loan Holding Company Act, 12 U. See North Carolina General Statutes 54B-48.2
  • Rules and regulations: means those regulatory procedures and guidelines issued by the Commissioner of Banks and approved by the Commission. See North Carolina General Statutes 54B-4
  • Savings and loan holding company: means any company which directly or indirectly controls an association or controls any other company which is a savings and loan holding company. See North Carolina General Statutes 54B-48.2
  • State: means any state of the United States and the District of Columbia. See North Carolina General Statutes 54B-48.2