GroundRules
← Search the law
North Carolina · Through S.L. 2026-30

N.C. Gen. Stat. § 53C-9-102: Distributions; assignments restricted.

Read at publisher ↗
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.

A bank that is in the process of involuntary or voluntary dissolution pursuant to this Article may not make or pay distributions to its shareholders unless the bank has the prior written approval of the Commissioner. No bank shall make any general assignment for the benefit of its creditors except by surrendering possession of its assets to the Commissioner for dissolution and liquidation pursuant to G.S. 53-9-301, and any other purported assignment by the bank for the benefit of its creditors shall be void. (2012-56, s. 4.)

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

Browse this collection