North Carolina Statutes
§ 53-405 — Naming of conservator not liquidation
North Carolina·Ch. 53 Regulation of Financial Services·Art. 24 Trust Companies and Interstate Trust Business
No power conferred in this Subpart upon the Commissioner, when exercised, shall be deemed as an act of possession for the purposes of liquidation; and whenever the Commissioner shall, with reference to any State trust company for which a conservator is appointed, deem that liquidation is necessary, the Commissioner shall exercise the powers for the purposes of liquidation as provided in Subpart B of Part 5 of this Article. (2001-263, s. 1.)
Subpart D. Sale of Assets; Issuance of Preferred Stock by Jeopardized State Trust Company.
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Definitions