North Carolina Statutes
§ 54C-100 — Membership of a mutual association
North Carolina § 54C-100
This text of North Carolina § 54C-100 (Membership of a mutual association) 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. § 54C-100 (2026).
Text
The membership of a mutual State savings bank shall consist of:
(1)Those who hold deposit accounts in a savings bank, and
(2)Those who borrow funds and those who become obligated on a loan from the savings bank, for as long as the loan remains unpaid and the borrower remains liable to the savings bank for the payment of the loan.
A person, as a matter of right or in a trust or other fiduciary capacity, or any partnership, association, corporation, political subdivision, or public or governmental unit or entity may become a member of a mutual savings bank. Members shall be possessed of voting rights and any other rights as are provided by a savings bank's certificate of incorporation and bylaws as approved by the Commissioner of Banks. Members are the owners of a mutual savings bank. (199
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Nearby Sections
15
§ 54C-1
Title§ 54C-10
Certificate of incorporation§ 54C-100
Membership of a mutual association§ 54C-101
Directors§ 54C-102
Bylaws§ 54C-104
Conflicts of interest§ 54C-105
Voting rights§ 54C-106
Annual meetings notice required§ 54C-107
Special meetings; notice required§ 54C-108
Quorum§ 54C-109
Bonding§ 54C-12
Criteria to be met before the Commissioner of Banks may recommend approval of an application§ 54C-121
LoansCite This Page — Counsel Stack
Bluebook (online)
North Carolina § 54C-100, Counsel Stack Legal Research, https://law.counselstack.com/statute/nc/54C/54C-100.