reglab/housing_qa huggingface dataset:
NC Gen Stat § 54B-192 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 8 - Other Investments.|§ 54B-192 - Urban renewal projects.

 54B-192. Urban renewal projects.(a) A State association may invest in the initial purchase and development, or the purchase or commitment to purchase after completion, of unimproved residential real property or improved residential real property for sale or rental, including projects for the reconstruction, rehabilitation or rebuilding of residential properties to meet the minimum standards of health and occupancy prescribed by appropriate local authorities, and the provision of accommodations for retail stores, shops and other community services which are reasonably incident to such housing projects. No such investment shall be made under the provisions of this section without the prior approval of the Commissioner of Banks. The Commissioner of Banks may approve such investment under the provisions of this section only when the association shows:(1) That the association has adequate assets available for such an investment;(2) That the amount of the proposed investment does not exceed ninety percent (90%) of the reasonable market value of the property or interest therein; and(3) Reserved.(4) That the proposed project is to be located in an area, including any contiguous area acquired incidentally thereto, determined by the Commissioner of Banks to be an urban renewal, redevelopment, blighted or conservation area, or any similar area provided for by the laws of this State or of the United States, or local ordinances for slum clearance, conservation, blighted area clearance, redevelopment, urban renewal or of a similar nature or purpose.(b) Nothing herein contained shall prohibit a State association from developing or building on land acquired by it under any other provisions of this Chapter; nor shall a State association be prohibited from completing the construction of buildings pursuant to any construction loan contract where the borrower has failed to comply with the terms of such contract. (1981, c. 282, s. 3; 2001-193, s. 16.)
NC Gen Stat § 54B-193 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 8 - Other Investments.|§ 54B-193 - Loans on sufficient collateral; other investments.

 54B-193. Loans on sufficient collateral; other investments.(a) A State association may invest in loans secured by any collateral deemed sufficient by the board of directors to properly secure loans; however, if the collateral consists of stock or equity securities of any kind, the stock or securities must be listed on a national stock exchange or regularly quoted and offered for trade on an over-the-counter market.(b) Subject to such limitations as the Commissioner of Banks may prescribe by regulation, a State association may invest in any investment deemed appropriate by its board of directors. (1981, c. 282, s. 3; 1981 (Reg. Sess., 1982), c. 1238, s. 19; 2001-193, s. 16.)
NC Gen Stat § 54B-194 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 8 - Other Investments.|§ 54B-194 - Service corporations.

 54B-194. Service corporations.(a) Any association or group of associations whose principal offices are located within this State, may establish service corporations under the provisions of Chapter 55 for corporate organization, provided that the Commissioner of Banks receives copies of the proposed articles of incorporation and bylaws for approval, prior to filing them with the Secretary of State. Any such association may also invest in the capital stock, obligations or other securities of existing service corporations.(b) No State association may make any investment in service corporations if its aggregate investment would exceed ten percent (10%) of its total assets.(c) Service corporations shall be subject to audit and examination by the Commissioner of Banks, and the cost of examination shall be paid by the service corporation.(d) The permitted activities of a service corporation shall be described in the rules and regulations as promulgated by the Commissioner of Banks. In addition, a service corporation may engage in those activities which are approved for service corporations owned solely by federal associations who have their principal offices in this State, unless such activities are prohibited by the Commissioner of Banks.(e) The location of the principal and branch offices of a service corporation must be approved by the Commissioner of Banks. (1981, c. 282, s. 3; 1981 (Reg. Sess., 1982), c. 1238, s. 20; 1989 (Reg. Sess., 1990), c. 806, s. 11; 2001-193, s. 16.)
NC Gen Stat § 54B-195 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 8 - Other Investments.|§ 54B-195 - Any loan or investment permitted for federal associations.

 54B-195. Any loan or investment permitted for federal associations.Subject to such limitations and restrictions as the Commissioner of Banks may prescribe through rules and regulations, any State association is authorized and permitted to make any loan or investment, or engage in any activity, which may be permitted for federal associations whose principal offices are located within this State. Every loan or investment made by a State association prior to the enactment of this Chapter shall for all purposes be considered to have been permitted loans or investments if federal associations were authorized to make such loans or investments at the time they were made by the State association. (1981, c. 282, s. 3; 1983, c. 144, s. 21; 1989 (Reg. Sess., 1990), c. 806, s. 12; 2001-193, s. 16.)
NC Gen Stat § 54B-197 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 8 - Other Investments.|§ 54B-197 - Effect of change in law or regulation.

 54B-197. Effect of change in law or regulation.Any loan or investment made by a State association which was in compliance with the law or regulations in effect at the time such loan or investment was made will remain a legal loan or investment even though the power to make such loans or investments in the future is amended or revoked. (1981, c. 282, s. 3.)
NC Gen Stat § 54B-210 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 9 - Liquidity Fund.|§ 54B-210 - Components of liquidity fund.

 54B-210. Components of liquidity fund.(a) Every State association shall establish and maintain a regulatory capital account in an amount and in such funds and investments that comply with the requirements of the appropriate federal regulatory authorities.(b) The failure of a State association to maintain the required level and type of regulatory capital may be grounds for supervisory action by the Commissioner of Banks.(c) The Commissioner of Banks may adopt rules to implement this section. (1981, c. 282, s. 3; 1981 (Reg. Sess., 1982), c. 1238, s. 21; 1983, c. 144, s. 22; 1989, c. 76, s. 10; 1989 (Reg. Sess., 1990), c. 806, s. 13; 2001-193, s. 16.)
NC Gen Stat § 54B-211 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 9 - Liquidity Fund.|§ 54B-211 - Renewal of liquidity fund.

 54B-211. Renewal of liquidity fund.If the liquidity fund falls below the amount required by the Commission, the association shall make no new real property loans until the required level has been attained. The refinancing, recasting or renewal of loans previously made and loans made as a result of foreclosure sales under instruments held by the association shall not be considered as new loans, within the meaning of this section. (1981, c. 282, s. 3.)
NC Gen Stat § 54B-216 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 10 - General Reserve.|§ 54B-216 - General reserve.

 54B-216. General reserve.(a) Every State association shall establish and maintain general valuation allowances and specific loss reserves in compliance with the requirements of the appropriate federal regulatory authorities.(b) The failure of a State association to maintain the required level of general valuation allowances or specific loss reserves may be grounds for supervisory action by the Commissioner of Banks.(c) The Commissioner of Banks may adopt rules to implement this section.(d) to (f) Repealed by Session Laws 1989, c. 76, s. 11. (1981, c. 282, s. 3; 1981 (Reg. Sess., 1982), c. 1238, s. 2; 1989, c. 76, s. 11; 1989 (Reg. Sess., 1990), c. 806, s. 14; 2001-193, s. 16.)
NC Gen Stat § 54B-236 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 12 - Mutual Deposit Guaranty Associations.|§ 54B-236 - Definitions.

 54B-236. Definitions.The term "institution" as used in this Article shall mean savings and loan associations organized or operated under the provisions of this Chapter, or credit unions organized or operated under the provisions of Articles 14A to 14L of Chapter 54 of the General Statutes, or any institution that is eligible for insurance by the Federal Deposit Insurance Corporation or the National Credit Union Administration. (1981, c. 282, s. 3; 1983, c. 144, s. 23; 1985, c. 659, s. 15; 1989 (Reg. Sess., 1990), c. 806, s. 15.)
NC Gen Stat § 54B-237 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 12 - Mutual Deposit Guaranty Associations.|§ 54B-237 - Organization of a mutual deposit guaranty association.

 54B-237. Organization of a mutual deposit guaranty association.(a) Any number of institutions, not less than 25, may become incorporated as a mutual deposit guaranty association without capital stock subject to the limitations prescribed in this Article. A mutual deposit guaranty association shall be governed by a board of directors or board of trustees of which a majority shall be representatives of the public and shall not be employees or directors of any insured member institution or have an interest in any insured member institution other than as a result of being a depositor or borrower.(b) Articles of incorporation of a guaranty association shall be filed in the office of the Secretary of State. The Secretary of State shall, upon receipt of such articles, transmit a copy of them to the Secretary of Commerce and shall not record them until authorized to do so by the Secretary of Commerce. (1981, c. 282, s. 3; 1983, c. 719, s. 2; 1989, c. 751, s. 9(c); 1991 (Reg. Sess., 1992), c. 959, s. 7.)
NC Gen Stat § 54B-238 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 12 - Mutual Deposit Guaranty Associations.|§ 54B-238 - Examination and certification by Secretary of Commerce.

 54B-238. Examination and certification by Secretary of Commerce.(a) Upon receipt from the Secretary of State of a copy of the articles of incorporation of a proposed guaranty association, the Secretary of Commerce shall at once examine all the facts connected with the formation of the proposed corporation. If the articles of incorporation are correct in form and substance and the examination shows that such corporation, if formed, would be entitled to commence the business of a guaranty association, the Secretary of Commerce shall so certify to the Secretary of State.(b) The Secretary of Commerce may refuse to make such certification if upon examination he has reason to believe the proposed corporation is to be formed for any business other than assuring the liquidity of member institutions and guaranteeing deposits therein, if upon examination he has reason to believe that the character and general fitness of the incorporators are not such as to command the confidence of the general public or if the best interests of the public will not be promoted by its establishment. (1981, c. 282, s. 3; 1983, c. 719, s. 2; 1989, c. 751, s. 8(3); 1991 (Reg. Sess., 1992), c. 959, s. 8.)
NC Gen Stat § 54B-239 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 12 - Mutual Deposit Guaranty Associations.|§ 54B-239 - Recordation of articles of incorporation.

 54B-239. Recordation of articles of incorporation.Upon receipt of the certification provided for in G.S. 54B-238, the Secretary of State shall record the articles of incorporation of such guaranty association and furnish a certified copy thereof to the incorporators and to the Secretary of Commerce. Upon such recordation, such association shall be deemed a corporation. All papers thereafter filed in the office of the Secretary of State relating to such corporation shall be recorded as provided by law and a certified copy forwarded to the Secretary of Commerce. (1981, c. 282, s. 3; 1983, c. 719, s. 2; 1989, c. 751, s. 9(c); 1991 (Reg. Sess., 1992), c. 959, s. 9.)
NC Gen Stat § 54B-240 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 12 - Mutual Deposit Guaranty Associations.|§ 54B-240 - Proposed amendments submitted to Secretary of Commerce.

 54B-240. Proposed amendments submitted to Secretary of Commerce.Any proposed amendments to the articles of incorporation of a mutual deposit guaranty association shall be filed in the office of the Secretary of State, who shall forward a copy thereof to the Secretary of Commerce, and shall not record the amendments until authorized to do so by certification of the Secretary of Commerce. (1981, c. 282, s. 3; 1983, c. 719, s. 2; 1989, c. 751, s. 8(4); 1991 (Reg. Sess., 1992), c. 959, s. 10.)
NC Gen Stat § 54B-241 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 12 - Mutual Deposit Guaranty Associations.|§ 54B-241 - Examination and certification of amendments.

 54B-241. Examination and certification of amendments.(a) Upon receipt from the Secretary of State of a copy of proposed amendments to the articles of incorporation of a mutual deposit guaranty association, the Secretary of Commerce shall at once examine the proposed amendments to determine their effect on the operation of the guaranty association.(b) In the event the proposed amendments are correct in form and substance and the examination shows that if adopted they would not change the character or principal business of the guaranty association, the Secretary of Commerce shall so certify to the Secretary of State.(c) The Secretary of Commerce may refuse to make certification if upon examination he has reason to believe that the proposed amendments would change the character of the business of the guaranty association or that the best interests of the public will not be promoted by their adoption. (1981, c. 282, s. 3; 1983, c. 719, s. 2; 1989, c. 751, s. 8(5); 1991 (Reg. Sess., 1992), c. 959, s. 11.)
NC Gen Stat § 54B-242 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 12 - Mutual Deposit Guaranty Associations.|§ 54B-242 - Recordation of amendments.

 54B-242. Recordation of amendments.Upon receipt of the certification provided for in G.S. 54B-241, the Secretary of State shall record the amendments to the articles of incorporation and furnish a certified copy thereof to the mutual deposit guaranty association and to the Secretary of Commerce. (1981, c. 282, s. 3; 1983, c. 719, s. 2; 1989, c. 751, s. 9(c); 1991 (Reg. Sess., 1992), c. 959, s. 12.)
NC Gen Stat § 54B-243 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 12 - Mutual Deposit Guaranty Associations.|§ 54B-243 - Reserve for losses.

 54B-243. Reserve for losses.A mutual deposit guaranty association shall maintain at all times an amount of funds equal to no less than one percent (1%) of its insured liability to cover losses of its members. These funds may include cash, investments, and reinsurance. (1981, c. 282, s. 3.)
NC Gen Stat § 54B-245 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 12 - Mutual Deposit Guaranty Associations.|§ 54B-245 - Filing of semiannual financial reports; fees.

 54B-245. Filing of semiannual financial reports; fees.Each mutual deposit guaranty association shall on the 30th day of June and the 31st day of December of each year, or within 40 days thereafter, file with the Secretary of Commerce a report for the preceding half year, showing its financial condition at the end thereof. Such reports shall be in such form and contain such information as may be prescribed by the Secretary of Commerce. Each guaranty association doing business in this State shall pay to the Secretary of Commerce, at the time of filing each semiannual report required by this section, the sum of five dollars ($5.00). All such fees shall be paid into the State treasury to the credit of the general fund. (1981, c. 282, s. 3; 1983, c. 719, s. 2; 1989, c. 751, s. 9(c); 1991 (Reg. Sess., 1992), c. 959, s. 13.)
NC Gen Stat § 54B-246 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 12 - Mutual Deposit Guaranty Associations.|§ 54B-246 - Supervision by Secretary of Commerce.

 54B-246. Supervision by Secretary of Commerce.(a) In addition to any and all other powers, duties and functions vested in the Secretary of Commerce under the provisions of this Article, and for the protection of member institutions and the general public, the Secretary of Commerce shall have general control and supervision over all mutual deposit guaranty associations doing business in this State. Mutual deposit guaranty associations shall be subject to the control and supervision of the Secretary of Commerce as to their conduct, organization, management, business practices, reserve requirements and their financial and fiscal matters. The grant of general control and supervision over mutual deposit guaranty associations to the Secretary of Commerce by this Article shall in no way be deemed to affect the existing powers, duties and responsibilities of the Credit Union Commission, the Commissioner of Banks, or the State Banking Commission except for the removal herein of general control and supervision over mutual deposit guaranty associations from the Administrator of the Savings Institutions Division to the Secretary of Commerce.(b) The Secretary of Commerce shall have the right, and is hereby empowered to issue rules and regulations whenever he deems it necessary for the administration of this Article as well as rules and regulations with respect to:(1) Types of financial records to be maintained by mutual deposit guaranty associations;(2) Retention periods of various financial records;(3) Internal control procedures of mutual deposit guaranty associations;(4) Conduct and management of mutual deposit guaranty associations;(5) Additional reports which may be required by the Secretary of Commerce.It shall be the duty of the board of directors or board of trustees of the mutual deposit guaranty association to put into effect and to carry out such rules and regulations.  (c) At least once each year the Secretary of Commerce shall make or cause to be made an examination into the affairs of each mutual deposit guaranty association doing business in this State. The Administrator of the Credit Union Division of this State, in his capacity as supervisor of state-chartered credit unions, if he deems it necessary, may designate agents to participate in such examination. The Commissioner of Banks, in his capacity as supervisor of State chartered savings and loan associations, may designate agents to participate in such examination. The expenses of such yearly examination shall be paid by the mutual deposit guaranty association so examined. (1981, c. 282, s. 3; 1983, c. 719, s. 2; 1989, c. 76, s. 23; c. 751, s. 8(6); 1991 (Reg. Sess., 1992), c. 959, s. 14; 2001-193, ss. 13, 16.)
NC Gen Stat § 54B-247 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 12 - Mutual Deposit Guaranty Associations.|§ 54B-247 - Special examinations.

 54B-247. Special examinations.Whenever the Secretary of Commerce deems it necessary, he may make or cause to be made a special examination or audit of any mutual deposit guaranty association doing business in this State, in addition to the regular examination provided for by this Article. The expenses of such a special examination or audit shall be paid by the mutual deposit guaranty association so examined. (1981, c. 282, s. 3; 1983, c. 719, s. 2; 1989, c. 751, s. 8(7); 1991 (Reg. Sess., 1992), c. 959, s. 15.)
NC Gen Stat § 54B-248 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 12 - Mutual Deposit Guaranty Associations.|§ 54B-248 - Right to enter and to conduct investigations.

 54B-248. Right to enter and to conduct investigations. The Secretary of Commerce or any examiner appointed by him shall have access to and may compel the production of all books, papers, securities, moneys, and other property of a mutual deposit guaranty association under examination by him. He may administer oaths to and examine the officers and agents of such association as to its affairs. (1981, c. 282, s. 3; 1983, c. 719, s. 2; 1989, c. 751, s. 8(8); 1991 (Reg. Sess., 1992), c. 959, s. 16.)
NC Gen Stat § 54B-249 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 12 - Mutual Deposit Guaranty Associations.|§ 54B-249 - Removal of officers or employees.

 54B-249. Removal of officers or employees. The Secretary of Commerce shall have the right, and is hereby empowered, to require the board of directors or board of trustees of any guaranty association to immediately remove from office any officer, director, trustee or employee of any mutual deposit guaranty association doing business in this State, who shall be found by the Secretary of Commerce to be dishonest, incompetent, or reckless in the management of the affairs of the mutual deposit guaranty association, or in violation of the lawful orders, rules and regulations issued by the Secretary of Commerce, or who violates any of the laws set forth in Chapter 54B of the General Statutes. (1981, c. 282, s. 3; 1983, c. 719, s. 2; 1989, c. 751, s. 8(9); 1991 (Reg. Sess., 1992), c. 959, s. 17.)
NC Gen Stat § 54B-262 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 13 - Savings and Loan Holding Companies.|§ 54B-262 - Supervision of savings and loan holding companies.

 54B-262. Supervision of savings and loan holding companies.Savings and loan holding companies shall be under the supervision of the Commissioner of Banks. The Commissioner of Banks shall exercise all powers and responsibilities with respect to savings and loan holding companies which he exercises with respect to associations. (1981, c. 282, s. 3; 2001-193, s. 16.)
NC Gen Stat § 54B-265 (2021)
2021 North Carolina General Statutes|Chapter 54B - Savings and Loan Associations|Article 14 - Savings and Loan Interstate Branches.|§ 54B-265 - Title.

 54B-265. Title.This Article shall be known and may be cited as the North Carolina Savings and Loan Interstate Branch Act. (1993, c. 191, s. 2.)