{"data":{"id":"us-nc/n.c.-gen.-stat.-54c-53","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 54C-53","heading":"Power of Commissioner of Banks to adopt rules and definitions; reproduction of records.","body":"(a)\tThe Commissioner of Banks shall adopt rules, definitions, and forms as may be necessary for the supervision and regulation of savings banks and for the protection of the public investing in savings banks.\n(b)\tWithout limiting the generality of subsection (a) of this section, the Commissioner of Banks may adopt rules, definitions, and forms with respect to the following:\n(1)\tReserve requirements;\n(2)\tStock ownership and dividends;\n(3)\tStock transfers;\n(4)\tOriginal incorporators, stockholders, directors, officers, and employees of a savings bank;\n(5)\tBylaws;\n(6)\tThe operation of savings banks;\n(7)\tDeposit accounts, bonus plans, and contracts for savings programs;\n(8)\tLoans and loan expenses;\n(9)\tInvestments and resource management;\n(10)\tForms of proxies, holders of proxies, and proxy solicitations;\n(11)\tTypes of financial records to be maintained by savings banks;\n(12)\tRetention periods of various financial records;\n(13)\tInternal control procedures of savings banks;\n(14)\tConduct and management of savings banks;\n(15)\tChartering and branching;\n(16)\tLiquidations, dissolutions, and receiverships;\n(17)\tMergers, consolidations, conversions, and combination mergers and conversions;\n(18)\tInterim savings banks;\n(19)\tReports that may be required by the Commissioner of Banks;\n(20)\tConflicts of interest;\n(21)\tService corporations; and\n(22)\tSubsidiary savings banks and holding companies, including the rights of members, levels of investment in the subsidiaries, and stock sales.\n(c)\tA savings bank may cause any or all of its records to be recorded, copied, or reproduced by any photographic, photostatic, or miniature photographic process that correctly, accurately, permanently copies, reproduces, or forms a medium for copying or reproducing the original record on a film or other durable material.\n(d)\tA photographic, photostatic, or miniature photographic copy or reproduction is 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 photographic copy or reproduction is deemed to be a facsimile, exemplification, or certified copy of the original record for all purposes.\n(e)\tThis section, with reference to the retention and disposition of records, shall apply to any federal savings bank operating in North Carolina unless in conflict with regulations prescribed by its federal regulatory authority. (1991, c. 680, s. 1; 2001-193, s. 16.)","path":["Chapter 54C. Savings Banks.","Article 4. Supervision."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_54C/GS_54C-53.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:05:47Z","sha256":"f27fbf0a7d48269dd7baf82dd15a154c600b65927e08683e9379cf57ac89dc15","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-54c-52","next":"us-nc/n.c.-gen.-stat.-54c-54"},"notice":"GroundRules: Original legal text. Not legal advice."}