N.C. Gen. Stat. § 53-380: Notice to trust institutions, corporations, and others holding assets; existing liens.
Where this section sits in the code
- Chapter 53. Regulation of Financial Services.
- Article 24. Trust Companies and Interstate Trust Business.
- Part 5. Dissolution and Receivership; Conservatorship; Jeopardized State Trust Companies.
Upon taking possession of the assets and business of any State trust company, the Commissioner shall forthwith give notice, by mail or otherwise, of the action to all banks, clearing corporations, brokers, trust institutions, or other persons or corporations holding, or having in possession, any assets of the State trust company. No lien against any assets of the State trust company shall be enforced in any manner other than as provided in this Article after the Commissioner has taken possession of the State trust company. (2001-263, s. 1.)
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