Terms Used In North Carolina General Statutes > Chapter 53C > Article 3 - Organization of a Bank

• Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Bank: Any corporation, other than a credit union, savings institution, or trust company, that is organized under the laws of this State and is engaged in the business of receiving deposits (other than trust funds), paying monies, and making loans. See North Carolina General Statutes 53C-1-4
• capital: as used in this Chapter shall mean an amount equal to the amount calculated by application of the definition of such replacement term. See North Carolina General Statutes 53C-1-4
• Charter: A document issued by the Commissioner in accordance with Article 3 of this Chapter permitting a bank to conduct banking business. See North Carolina General Statutes 53C-1-4
• Commission: The State Banking Commission provided for in N. See North Carolina General Statutes 53C-1-4
• Commissioner: The Commissioner of Banks provided for in N. See North Carolina General Statutes 53C-1-4
• Company: A corporation, limited liability company, partnership, joint venture, business trust, trust, syndicate, association, unincorporated organization, or other form of business entity. See North Carolina General Statutes 53C-1-4
• Deposit: A "deposit" as defined in Section 3(l) of the Federal Deposit Insurance Act, 12 U. See North Carolina General Statutes 53C-1-4
• Depository institution: A bank, out-of-state bank, savings institution, or federally chartered institution, the deposits of which are insured by the FDIC. See North Carolina General Statutes 53C-1-4
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Examination: A supervisory inspection of a bank, a proposed bank, a holding company, or a branch of an out-of-state bank operating in this State that may include inspection of all relevant information, including information of or about the subsidiaries and affiliates of the bank, proposed bank holding company, or branch. See North Carolina General Statutes 53C-1-4
• FDIC: The Federal Deposit Insurance Corporation or its successor. See North Carolina General Statutes 53C-1-4
• following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Organizers: One or more individuals who are the organizers of a proposed bank responsible for the business of the proposed bank from the filing of the application to the Commission's final decision on the application. See North Carolina General Statutes 53C-1-4
• Person: An individual, a company, or a group of persons who are acting in concert. See North Carolina General Statutes 53C-1-4
• Principal office: The office that houses the headquarters of a bank. See North Carolina General Statutes 53C-1-4
• Public notice: Notice to the public of the applicable information specified in this Chapter by (i) a single publication in a newspaper of general circulation in the county in which the bank that is the subject of the publication has its principal office or in such other county as may be directed by the Commissioner to best meet the purposes for which the notice is required and (ii) a posting in the notices section of the Commissioner's Web site for at least 15 days. See North Carolina General Statutes 53C-1-4
• Shares: The units into which the equity ownership interests of a corporation are divided. See North Carolina General Statutes 53C-1-4
• State: Any state of the United States, the District of Columbia, or any territory of the United States other than this State. See North Carolina General Statutes 53C-1-4
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Trust institution: Any company lawfully acting as a fiduciary in a state or in a foreign country. See North Carolina General Statutes 53C-1-4
• United States: shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
• Voting securities: A security that (i) confers upon the holder the right to vote for the election of members of the board of directors or similar governing body of the company or (ii) is convertible into, or entitles the holder to receive upon its exercise, a security that confers such a right to vote. See North Carolina General Statutes 53C-1-4