North Carolina § 53-356 Responsibility of directors

North Carolina Statutes

§ 53-356 — Responsibility of directors

North Carolina § 53-356

Ch. 53Regulation of Financial Services

Art. 24Trust Companies and Interstate Trust Business

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Bluebook

N.C. Gen. Stat. § 53-356 (2026).

Text

(a)The standard of conduct for directors shall be as set forth in G.S. 55-8-30.

(b)Any director of a State trust company who shall knowingly violate, or who shall knowingly permit to be violated by any officers, agents, or employees of such State trust company, any of the provisions of this Article shall be held personally and individually liable for all damages which the State trust company, its shareholders, or any other person has sustained in consequence of the violation. Any aggrieved shareholder of any State trust company in liquidation may prosecute an action for the enforcement of the provisions of this section. Only one such action may be brought. The procedure shall follow, as much as possible, that prescribed by Article 3 of Chapter 44A of the General Statutes, relative to sui

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(a) The standard of conduct for directors shall be as set forth in G.S. 55-8-30.
(b) Any director of a State trust company who shall knowingly violate, or who shall knowingly permit to be violated by any officers, agents, or employees of such State trust company, any of the provisions of this Article shall be held personally and individually liable for all damages which the State trust company, its shareholders, or any other person has sustained in consequence of the violation. Any aggrieved shareholder of any State trust company in liquidation may prosecute an action for the enforcement of the provisions of this section. Only one such action may be brought. The procedure shall follow, as much as possible, that prescribed by Article 3 of Chapter 44A of the General Statutes, relative to suits on bonds of contractors with municipal corporations. (2001-263, s. 1.)