North Carolina § 54B-60 Commissioner of Banks to have right of access to books and records of association; right to issue subpoenas, administer oaths, examine witnesses

North Carolina Statutes

§ 54B-60 — Commissioner of Banks to have right of access to books and records of association; right to issue subpoenas, administer oaths, examine witnesses

North Carolina·Ch. 54B Savings and Loan Associations·Art. 4 Supervision and Regulation

(a)The Commissioner of Banks and his agents:

(1)Shall have free access to all books and records of an association, or a service corporation thereof, that relate to its business, and the books and records kept by an officer, agent or employee relating to or upon which any record is kept;

(2)May subpoena witnesses and administer oaths or affirmations in the examination of any director, officer, agent, or employee of an association, or a service corporation thereof or of any other person in relation to its affairs, transactions and conditions;

(3)May require the production of records, books, papers, contracts and other documents; and

(4)May order that improper entries be corrected on the books and records of an association.

(b)The Commissioner of Banks may issue subpoenas duces tecum. (

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(a) The Commissioner of Banks and his agents:
(1) Shall have free access to all books and records of an association, or a service corporation thereof, that relate to its business, and the books and records kept by an officer, agent or employee relating to or upon which any record is kept;
(2) May subpoena witnesses and administer oaths or affirmations in the examination of any director, officer, agent, or employee of an association, or a service corporation thereof or of any other person in relation to its affairs, transactions and conditions;
(3) May require the production of records, books, papers, contracts and other documents; and
(4) May order that improper entries be corrected on the books and records of an association.
(b) The Commissioner of Banks may issue subpoenas duces tecum.
(c) If a person fails to comply with a subpoena so issued or a party or witness refuses to testify on any matters, a court of competent jurisdiction, on the application of the Commissioner of Banks, shall compel compliance by proceedings for contempt as in the case of disobedience of the requirements of a subpoena issued from such court or a refusal to testify in such court. (1981, c. 282, s. 3; 2001-193, s. 16.)

North Carolina § 54B-60 (Commissioner of Banks to have right of access to books and records of association; right to issue subpoenas, administer oaths, examine witnesses) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.