North Carolina Statutes
§ 54B-249 — Removal of officers or employees
The Secretary of Commerce shall have the right, and is hereby empowered, to require the board of directors or board of trustees of any guaranty association to immediately remove from office any officer, director, trustee or employee of any mutual deposit guaranty association doing business in this State, who shall be found by the Secretary of Commerce to be dishonest, incompetent, or reckless in the management of the affairs of the mutual deposit guaranty association, or in violation of the lawful orders, rules and regulations issued by the Secretary of Commerce, or who violates any of the laws set forth in Chapter 54B of the General Statutes. (1981, c. 282, s. 3; 1983, c. 719, s. 2; 1989, c. 751, s. 8(9); 1991 (Reg. Sess., 1992), c. 959, s. 17.)
§§ 54B-250 through 54B-260. Reserved for fu
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Legislative History
(1981, c. 282, s. 3; 1983, c. 719, s. 2; 1989, c. 751, s. 8(9); 1991 (Reg. Sess., 1992), c. 959, s. 17.)
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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