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North Carolina · Through S.L. 2026-30

N.C. Gen. Stat. § 53C-9-101: Supervisory combinations.

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Where this section sits in the code
  1. Chapter 53C. Regulation of Banks.
  2. Article 9. Supervisory Liquidation; Voluntary Dissolution and Liquidation.
  3. Part 1. General Provisions.

Notwithstanding any other provision of this Chapter, in order to protect the public, including depositors and creditors of a bank, the Commissioner, upon making a finding that a bank is unable to operate in a safe and sound manner and is not reasonably likely to be able to resume safe and sound operations, may authorize or require a combination of the bank, a control transaction, or any other transaction, whether or not the Commissioner has taken supervisory control pursuant to G.S. 53C-8-14. In ordering any such combination, control transaction, or other transaction, the Commissioner may order that a vote of the bank's shareholders shall not be required to effect the combination, control transaction, or other transactions. (2012-56, s. 4.)

Collected 2026-08-27T18:05:27Z. Source file · JSON

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