{"data":{"id":"us-nc/n.c.-gen.-stat.-53-405","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 53-405","heading":"Naming of conservator not liquidation.","body":"No power conferred in this Subpart upon the Commissioner, when exercised, shall be deemed as an act of possession for the purposes of liquidation; and whenever the Commissioner shall, with reference to any State trust company for which a conservator is appointed, deem that liquidation is necessary, the Commissioner shall exercise the powers for the purposes of liquidation as provided in Subpart B of Part 5 of this Article. (2001-263, s. 1.)\nSubpart D. Sale of Assets; Issuance of Preferred Stock by Jeopardized State Trust Company.","path":["Chapter 53. Regulation of Financial Services.","Article 24. Trust Companies and Interstate Trust Business.","Part 5. Dissolution and Receivership; Conservatorship; Jeopardized State Trust Companies."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_53/GS_53-405.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:05:12Z","sha256":"4f5df9c96ccdbf22e2e491ae5681153f14b206a2e1c757ad0853c516babe7f90","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-53-404","next":"us-nc/n.c.-gen.-stat.-53-406"},"notice":"GroundRules: Original legal text. Not legal advice."}