Source: http://www.lawserver.com/law/state/north-carolina/nc-laws/north_carolina_laws_chapter_53_article_24
Timestamp: 2013-06-20 06:17:21
Document Index: 778951299

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North Carolina General Statutes Chapter 53 > Article 24 - Trust Companies and Interstate Trust Business :: Lawserver LawServer - Laws, Legal Information and Lawyers
Home > For Everyone > Wills and Estates > Trusts > North Carolina General Statutes Chapter 53 > Article 24 - Trust Companies and Interstate Trust Business Trusts For this topic: Go back to the topic homeTopic HomeJoin the forum for this topicForumSign up for Email related to this topicEmailRSS feed for this topicRSSFeedbackFeedback	Search the North Carolina General Statutes
North Carolina General Statutes Chapter 53 > Article 24 - Trust Companies and Interstate Trust Business North Carolina General Statutes > Chapter 53 > Article 24 - Trust Companies and Interstate Trust BusinessCurrent as of: 2010Check for updatesView 2008 version§ 53-301Definitions§ 53-302Title and purposes§ 53-303Companies authorized to engage in trust business§ 53-304Activities not requiring a charter, license, or approval§ 53-305Trust business of State trust institution§ 53-306Trust business of out-of-state trust institution§ 53-307Trust business of foreign trust institution§ 53-308Name of trust institution§ 53-309Trust deposits of authorized trust institutions§ 53-310Offices of State trust companies§ 53-311State trust company principal office§ 53-312Trust offices; representative trust offices§ 53-313Out-of-state trust offices and representative trust offices§ 53-314Trust business through a branch or trust office§ 53-315Establishing an interstate trust office§ 53-316Acquiring an interstate trust office§ 53-317Requirement of notice§ 53-318Action on notice§ 53-319Additional trust offices; representative trust offices§ 53-320Examinations; periodic reports; cooperative agreements; assessment of fees§ 53-321Enforcement§ 53-322Notice of transactions that cause a change in control§ 53-323Foreign trust institution application for trust office or representative trust office§ 53-324Conditions for approval§ 53-325Additional trust offices and representative trust offices§ 53-326Examinations; periodic reports; cooperative agreements; assessment of fees§ 53-327Enforcement§ 53-328Notice of transactions that cause a change in control§ 53-329International agreements§ 53-330Title and purposes§ 53-331Organization and powers of State trust company§ 53-332Articles of incorporation of State trust company§ 53-333Application for State trust company charter and permission to incorporate State trust company§ 53-334Notice and investigation of charter application§ 53-335Decision on charter application and hearing§ 53-336Issuance of charter§ 53-337Required initial capital§ 53-338Subordinated notes or debentures§ 53-339Application of laws relating to general business corporations§ 53-340Investment in State trust company facilities§ 53-341Other real estate§ 53-342Securities and other investments§ 53-343Prohibited distributions, acquisitions, liens, or pledges§ 53-344Subsidiaries§ 53-345Engaging in commerce prohibited§ 53-346Lending and lease financing; conversion to State bank§ 53-347Acquisition of control§ 53-348Application regarding acquisition of control§ 53-349Decision on acquisition of control§ 53-350Appeal§ 53-351Report of changes in chief executive officer or directors§ 53-352Board of directors§ 53-353Required board meetings§ 53-354Officers§ 53-355Certain criminal offenses§ 53-356Responsibility of directors§ 53-357Record keeping§ 53-358Bonding requirements; reports of apparent crime§ 53-359Merger, share exchange, or asset transfer authority§ 53-360Merger, share exchange, or asset transfer application§ 53-361Notice and investigation of merger, share exchange, or asset transfer; decision, hearing, and appeal§ 53-362Rights of dissenters to mergers, share exchanges, or asset transfers§ 53-363Private trust companies§ 53-364Requirements to apply for and maintain status as a private trust company§ 53-365Conversion to public trust company§ 53-366Applicability of other laws to authorized trust institutions; status of State trust company§ 53-367Commissioner shall have supervision over authorized trust institutions and shall examine§ 53-368Assessment of State trust companies§ 53-369Administrative orders; penalties for violation; increase of equity capital§ 53-370Notice and opportunity for hearing§ 53-371Removal of directors, officers, and employees§ 53-372Required vote of shareholders§ 53-373Corporate procedure§ 53-374Authority to liquidate; publication§ 53-375Examination and reports§ 53-376Unclaimed property§ 53-377When Commissioner may take charge§ 53-378Directors may act§ 53-379Notice of seizure; bar to attachment of liens§ 53-380Notice to trust institutions, corporations, and others holding assets; existing liens§ 53-381Permission to resume business§ 53-382Remedy for seizure; answer to notice; injunction; appeal; and motions§ 53-383Collection of debts and claims; Commissioner succeeds to all property of the State trust company§ 53-384Bond of the Commissioner; surety; condition; minimum penalty§ 53-385Inventory§ 53-386Notice and time for filing claims§ 53-387Power to reject claims; notice; affidavit of service; action on claims§ 53-388List of claims presented, copies, and proviso§ 53-389Declaration of dividends; order of preference in distribution§ 53-390Deposit of funds collected§ 53-391Employment of counsel, accountants, and other experts; compensation§ 53-392Unclaimed dividends held in trust§ 53-393Action by the Commissioner following full settlement§ 53-394Annual report of the Commissioner; items included; reports of condition of State trust companies§ 53-395Compensation of the Commissioner's office§ 53-396Exclusive method of liquidation§ 53-397Disposition of books and records§ 53-398Destruction of books and records§ 53-399Petition for new trustee§ 53-400Report to the Secretary of State§ 53-401Provisions for conservator; duties and powers§ 53-402Examination§ 53-403Termination of conservatorship§ 53-404Rights and liabilities of conservator§ 53-405Naming of conservator not liquidation§ 53-406Sale of assets by board of jeopardized State trust company§ 53-407Authority to act as disbursing agent§ 53-408Payment to creditors§ 53-409Issuance of preferred shares by jeopardized trust company§ 53-410Commissioner to act under authority of the Commission§ 53-411Rules§ 53-412Commissioner hearings; appeals§ 53-413Civil enforcement§ 53-414Cancellation of charter§ 53-415Severability§ 53-420Affiliate transfers authorized; procedure§ 53-421Objection to affiliate transfer§ 53-422Effect of affiliate transfer§ 53-423Trust institution as agent§ 53-424Construction________________________________________________________________________