{"data":{"id":"us-nc/n.c.-gen.-stat.-54b-37","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 54B-37","heading":"Merger of mutual and stock associations.","body":"(a)\tAny State mutual association and any State stock association, organized or operating, may merge to form a single stock association. The procedure to effect such a merger shall be as follows:\n(1)\tThe mutual association involved shall convert separately to a stock association, as provided under G.S. 54B-33.\n(2)\tThe two stock associations shall then merge to form a single stock association, as provided in G.S. 54B-35.\n(b)\tAny State mutual association, and any State stock association organized or operating may merge to form a mutual association. The procedure to effect such merger shall be as follows:\n(1)\tThe stock association involved shall convert separately to a mutual association, as provided under G.S. 54B-34.\n(2)\tThe two mutual associations shall then merge to form a single mutual association, as provided in G.S. 54B-35.\n(b1)\tNothing in this section shall be construed to prevent a simultaneous conversion-merger in subsections (a) and (b) of this section.\n(c)\tThe Commissioner of Banks is hereby empowered to promulgate rules and regulations to facilitate such a merger of mutual with stock associations. (1981, c. 282, s. 3; 1985, c. 659, s. 7; 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-37.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:05:42Z","sha256":"88f327705792f92284b3470d4253fd1c7f045e19a18117372f32aeddeff28218","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-54b-36","next":"us-nc/n.c.-gen.-stat.-54b-37.1"},"notice":"GroundRules: Original legal text. Not legal advice."}