{"data":{"id":"us-nc/n.c.-gen.-stat.-53-346","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 53-346","heading":"Lending and lease financing; conversion to State bank.","body":"(a)\tExcept as may be appropriate for extensions of credit in connection with trust or other account relationships, and as provided in and subject to the provisions of Article 5 of Chapter 36A of the General Statutes and other provisions of applicable law, a State trust company shall not engage in a loan business or in lease financing transactions as the party extending credit.\n(b)\tNotwithstanding any other provision of this Chapter, a State trust company may, with the approval of the Commissioner, convert to a State bank by following the procedures and requirements set forth in Article 2 of this Chapter, subject to any modifications to those procedures and requirements that are necessary and appropriate for the conversion of a State trust company. The Commissioner may make modifications to procedures or requirements of Article 2 of this Chapter by rule, order or declaratory ruling. (2001-263, s. 1.)\nSubpart D. Ownership; Governance; Mergers.","path":["Chapter 53. Regulation of Financial Services.","Article 24. Trust Companies and Interstate Trust Business.","Part 3. State Trust Company Charter Act."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_53/GS_53-346.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:05:12Z","sha256":"68e30a42e370e11455d943dd6ba48130a953b3873927d077a786854f11d2fa1f","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-53-345","next":"us-nc/n.c.-gen.-stat.-53-347"},"notice":"GroundRules: Original legal text. Not legal advice."}