{"data":{"id":"us-nc/n.c.-gen.-stat.-54b-36","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 54B-36","heading":"Merger of associations where ownership is converted.","body":"(a)\tAny two or more State mutual associations organized or operating may merge to form a single State stock association. The procedure to effect such a merger and conversion of ownership shall be as follows:\n(1)\tThe merging associations shall merge (to form a mutual association), as provided under G.S. 54B-35.\n(2)\tThe surviving association shall then convert to a stock association, as provided under G.S. 54B-33.\n(b)\tAny two or more State stock associations organized or operating may merge to form a single mutual association. The procedure to effect such a merger and conversion of ownership shall be as follows:\n(1)\tThe merging associations shall merge (to form a stock association), as provided under G.S. 54B-35.\n(2)\tThe surviving association shall then convert to a mutual association, as provided under G.S. 54B-34.\n(b1)\tNothing in this section shall be construed to prevent a simultaneous merger-conversion in subsections (a) and (b) of this section.\n(c)\tThe Commissioner of Banks may promulgate rules and regulations to facilitate the transition from two or more associations to a single association under a new form of ownership. (1981, c. 282, s. 3; 1985, c. 659, s. 6; 2001-193, s. 16.)","path":["Chapter 54B. Savings and Loan Associations.","Article 3. Fundamental Changes."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_54B/GS_54B-36.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:05:42Z","sha256":"44004d382eee8421482d29cb8abfac619bd0ddc2f608205773b07d83599a2f90","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-54b-35","next":"us-nc/n.c.-gen.-stat.-54b-37"},"notice":"GroundRules: Original legal text. Not legal advice."}