North Carolina § 54C-56 Prolonged audit, examination, or revaluation; payment of costs

North Carolina Statutes

§ 54C-56 — Prolonged audit, examination, or revaluation; payment of costs

North Carolina § 54C-56

Ch. 54CSavings Banks

Art. 4Supervision

This text of North Carolina § 54C-56 (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. § 54C-56 (2026).

Text

(a)If, in the opinion of the Commissioner of Banks, an examination conducted under G.S. 54C-55 fails to disclose the complete financial condition of a savings bank, the Commissioner of Banks may in order to ascertain its complete financial condition:

(1)Make an extended audit or examination of the savings bank or cause an audit or examination to be made by an independent auditor; and

(2)Make an extended revaluation of any of the assets or liabilities of the savings bank or cause an independent appraiser to make a revaluation.

(b)The Commissioner of Banks shall collect from the savings bank a reasonable sum for actual or necessary expenses of an audit, examination, or revaluation. (1991, c. 680, s. 1; 2001-193, s. 16.)

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(a) If, in the opinion of the Commissioner of Banks, an examination conducted under G.S. 54C-55 fails to disclose the complete financial condition of a savings bank, the Commissioner of Banks may in order to ascertain its complete financial condition:
(1) Make an extended audit or examination of the savings bank or cause an audit or examination to be made by an independent auditor; and
(2) Make an extended revaluation of any of the assets or liabilities of the savings bank or cause an independent appraiser to make a revaluation.
(b) The Commissioner of Banks shall collect from the savings bank a reasonable sum for actual or necessary expenses of an audit, examination, or revaluation. (1991, c. 680, s. 1; 2001-193, s. 16.)