North Carolina Statutes
§ 54C-45 — Supervisory mergers, consolidations, conversions, and combination mergers and conversions
Notwithstanding any other provision of this Chapter, in order to protect the public, including members, depositors, and stockholders of a State savings bank, the Commissioner of Banks, upon making a finding that a State savings bank is unable to operate in a safe and sound manner, may authorize or require a short form merger, consolidation, conversion, or combination merger and conversion of the State savings bank, or any other transaction, as to which the finding is made. (1991, c. 680, s. 1; 2001-193, s. 16.)
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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
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