North Carolina Statutes
§ 54B-193 — Loans on sufficient collateral; other investments
(a)A State association may invest in loans secured by any collateral deemed sufficient by the board of directors to properly secure loans; however, if the collateral consists of stock or equity securities of any kind, the stock or securities must be listed on a national stock exchange or regularly quoted and offered for trade on an over-the-counter market.
(b)Subject to such limitations as the Commissioner of Banks may prescribe by regulation, a State association may invest in any investment deemed appropriate by its board of directors. (1981, c. 282, s. 3; 1981 (Reg. Sess., 1982), c. 1238, s. 19; 2001-193, s. 16.)
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Nearby Sections
15
§ 54B-1
Title§ 54B-10
Certificate of incorporation§ 54B-100
Membership of a mutual association§ 54B-101
Directors§ 54B-102
Employment policies§ 54B-104
Conflicts of interest§ 54B-105
Voting rights§ 54B-106
Annual meetings; notice required§ 54B-107
Special meetings; notice required§ 54B-108
Quorum§ 54B-109
Indemnification§ 54B-110
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