North Carolina Statutes
§ 53-343 — Prohibited distributions, acquisitions, liens, or pledges
North Carolina·Ch. 53 Regulation of Financial Services·Art. 24 Trust Companies and Interstate Trust Business
A State trust company shall not make any distribution to its shareholders, acquire its own shares, acquire a lien upon its own shares, or pledge its own assets while an order of the Commissioner prohibiting such distributions, acquisitions, liens, or pledges is in effect. (2001-263, s. 1.)
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Definitions