North Carolina § 54B-58 Prolonged audit, examination or revaluation; payment of costs

North Carolina Statutes

§ 54B-58 — Prolonged audit, examination or revaluation; payment of costs

North Carolina § 54B-58

Ch. 54BSavings and Loan Associations

Art. 4Supervision and Regulation

This text of North Carolina § 54B-58 (Prolonged audit, examination or revaluation; payment of costs) is published on Counsel Stack Legal Research, covering North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.C. Gen. Stat. § 54B-58 (2026).

Text

(a)If, in the opinion of the Commissioner of Banks, an examination conducted under the provisions of G.S. 54B-57 fails to disclose the complete financial condition of an association, he may in order to ascertain its complete financial condition:

(1)Make an extended audit or examination of the association or cause such an audit or examination to be made by an independent auditor;

(2)Make an extended revaluation of any of the assets or liabilities of the association or cause an independent appraiser to make such revaluation.

(b)The Commissioner of Banks shall collect from the association a reasonable sum for actual or necessary expenses of such an audit, examination or revaluation. (1981, c. 282, s. 3; 2001-193, s. 16.)

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(a) If, in the opinion of the Commissioner of Banks, an examination conducted under the provisions of G.S. 54B-57 fails to disclose the complete financial condition of an association, he may in order to ascertain its complete financial condition:
(1) Make an extended audit or examination of the association or cause such an audit or examination to be made by an independent auditor;
(2) Make an extended revaluation of any of the assets or liabilities of the association or cause an independent appraiser to make such revaluation.
(b) The Commissioner of Banks shall collect from the association a reasonable sum for actual or necessary expenses of such an audit, examination or revaluation. (1981, c. 282, s. 3; 2001-193, s. 16.)