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 § 54B-60

Ch. 54BSavings and Loan Associations

Art. 4Supervision and Regulation

This text of 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) 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-60 (2026).

Text

(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.)