{"data":{"id":"us-nc/n.c.-gen.-stat.-53c-1-3","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 53C-1-3","heading":"Existing banks; prohibitions, injunctions.","body":"(a)\tNo depository institution organized or created under the laws of this State may operate as a bank except in accordance with this Chapter. Banks established prior to October 1, 2012, may continue operation under their existing organizational documents but shall be subject to all other requirements of this Chapter.\n(b)\tNo person shall operate in this State as a \"bank,\" \"savings bank,\" \"savings and loan association,\" \"trust company,\" or otherwise as a depository institution or trust institution unless established as a depository institution or trust institution under the laws of this State or another state or established under federal law. Unless so authorized, no person doing business in this State shall do either of the following:\n(1)\tUse in its name the term \"bank,\" \"savings and loan,\" \"savings bank,\" \"banking company,\" \"trust company,\" or words of similar meaning that lead the public reasonably to believe that it conducts the business of a depository institution or trust institution.\n(2)\tUse any sign, letterhead, circular, or website content or advertise or communicate in any manner that would lead the public reasonably to believe that it conducts the business of a depository institution or trust institution.\n(c)\tUpon application by the Commissioner, a court of competent jurisdiction may issue an injunction to restrain any person from violating or from continuing to violate this section. (2012-56, s. 4; 2025-25, s. 29(5).)","path":["Chapter 53C. Regulation of Banks.","Article 1. General Provisions."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_53C/GS_53C-1-3.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:05:27Z","sha256":"402d22c88f5b701bb8c0b63618d1e1a2cd2cb97589b14235f26bb0ea3a0037f3","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-53c-1-2","next":"us-nc/n.c.-gen.-stat.-53c-1-4"},"notice":"GroundRules: Original legal text. Not legal advice."}