{"data":{"id":"us-nc/n.c.-gen.-stat.-54b-55","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 54B-55","heading":"Power of Commissioner of Banks to promulgate rules and regulations; reproduction of records.","body":"(a)\tThe Commissioner of Banks shall have the right, and is empowered, to promulgate rules, instructions and regulations as may be necessary to the discharge of his duties and powers as to savings and loan associations for the supervision and regulation of said associations, and for the protection of the public investing in said savings and loan associations.\n(b)\tWithout limiting the generality of the foregoing paragraph, rules, instructions, and regulations may be promulgated with respect to:\n(1)\tReserve requirements;\n(2)\tStock ownership and dividends;\n(3)\tStock transfers;\n(4)\tIncorporators, stockholders, directors, officers and employees of an association;\n(5)\tBylaws;\n(6)\tRepealed by Session Laws 2001-193, s. 3.\n(7)\tThe structure of the office of the Commissioner of Banks;\n(8)\tThe operation of associations;\n(9)\tWithdrawable accounts, bonus plans, and contracts for savings programs;\n(10)\tLoans and loan expenses;\n(11)\tInvestments;\n(12)\tForms and definitions;\n(13)\tTypes of financial records to be maintained by associations;\n(14)\tRetention periods of various financial records;\n(15)\tInternal control procedures of associations;\n(16)\tConduct and management of associations;\n(17)\tChartering and branching;\n(18)\tLiquidations;\n(19)\tMergers;\n(20)\tConversions;\n(21)\tReports which may be required by the Commissioner of Banks;\n(22)\tConflicts of interest;\n(23)\tCollection of State savings and loan taxes;\n(24)\tService corporations; and\n(25)\tSavings and loan holding companies.\n(c)\tRepealed by Session Laws 1983, c. 144, s. 14.\n(d)\tAny association may cause any or all records by it to be recorded, copied or reproduced by any photographic, photostatic or miniature photographic process which correctly, accurately, permanently copies, reproduces or forms a medium for copying or reproducing the original record on a film or other durable material.\n(e)\tAny such photographic, photostatic or miniature photographic copy or reproduction shall be deemed to be an original record in all courts and administrative agencies for the purpose of its admissibility in evidence. A facsimile, exemplification or certified copy of any such photographic copy or reproduction shall, for all purposes, be deemed a facsimile, exemplification or certified copy of the original record.\n(f)\tThe provisions of this section with reference to the retention and disposition of records shall apply to any federal savings and loan association operating in North Carolina unless in conflict with regulations prescribed by its supervisory authority. (1981, c. 282, s. 3; 1983, c. 144, s. 14; 1989, c. 76, s. 19; 2001-193, ss. 3, 16.)","path":["Chapter 54B. Savings and Loan Associations.","Article 4. Supervision and Regulation."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_54B/GS_54B-55.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:05:42Z","sha256":"abc744d75d3d766ddb39bfb169168a65d4cfa4262b7edab49ad6a2613fce74fe","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-54b-54","next":"us-nc/n.c.-gen.-stat.-54b-56"},"notice":"GroundRules: Original legal text. Not legal advice."}