reglab/housing_qa huggingface dataset:
NC Gen Stat § 54C-107 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 6 - Corporate Administration.|§ 54C-107 - Special meetings; notice required.

 54C-107. Special meetings; notice required.(a) Special meetings of members or stockholders of a savings bank may be called by the president or the board of directors or by any other officers or persons as may be provided for in the charter or bylaws of the savings bank.(b) Notice of any special meeting of members or stockholders shall be given in the same manner as provided for annual meetings under G.S. 54C-106. (1991, c. 680, s. 1.)
NC Gen Stat § 54C-108 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 6 - Corporate Administration.|§ 54C-108 - Quorum.

 54C-108. Quorum.Unless otherwise provided in the savings bank's charter or bylaws, 50 holders of deposit accounts in a mutual savings bank or 50 stockholders or a majority of shares eligible to vote in a stock savings bank, present in person or represented by proxy, shall constitute a quorum at any annual or special meeting. (1991, c. 680, s. 1.)
NC Gen Stat § 54C-109 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 6 - Corporate Administration.|§ 54C-109 - Bonding.

 54C-109. Bonding.(a) A savings bank shall maintain a blanket indemnity bond of at least a minimum amount as prescribed by the Commissioner of Banks.(b) A savings bank that employs collection agents, who for any reason are not covered by the bond required in this section, shall provide for the bonding of each agent in an amount equal to at least twice the average monthly collections of the agent. The agents shall be required to make settlement with the association at least once monthly. No coverage by bond will be required of any agent that is a bank or an association insured by the Federal Deposit Insurance Corporation. The amount and form of the bonds and the sufficiency of the surety thereon shall be approved by the board of directors and the Commissioner of Banks before it is valid. A bond shall provide that its cancellation, either by the surety or by the insured, shall not become effective unless and until 30 days' notice in writing shall have been given to the Commissioner of Banks. (1991, c. 680, s. 1; 2001-193, s. 16.)
NC Gen Stat § 54C-121 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 7 - Loans and Investments.|§ 54C-121 - Loans.

 54C-121. Loans.(a) A savings bank may loan funds as follows:(1) On the security of deposit accounts, but no loan shall exceed the withdrawal value of the pledged deposit account.(2) On the security of real property:a. Of a value, determined in accordance with this Chapter and any appraisal rules as the Commissioner of Banks may adopt sufficient to provide good and ample security for the loan;b. With a fee simple title or a leasehold title of no less duration than 10 years beyond the maturity of the loan;c. With the title established by any evidence of title as is consistent with sound lending practices; andd. With the security interest in such real estate evidenced by an appropriate written instrument and the loan evidenced by a note, bond, or similar written instrument. A loan on the security of the whole of the beneficial interest in a land trust satisfies the requirements of this sub-subdivision if the title to the land is held by a corporate trustee and if the real estate held in the land trust meets the other requirements of this subdivision.(3) For the purpose of repair, improvement, rehabilitation, furnishing, or equipment of real estate.(4) For the purpose of financing or refinancing an existing ownership interest, in certificates of stock, certificates of beneficial interest, or other evidence of an ownership interest in, and a proprietary lease from, a corporation, trust or partnership formed for the purpose of the cooperative ownership of real estate, secured by the assignment or transfer of the certificates or other evidence of ownership of the borrower.(5) For the purchase of loans that, at the time of purchase, the savings bank could make in accordance with this Chapter.(6) For the purchase of installment contracts for the sale of real estate, and title thereto that is subject to the contract, but in each instance only if the savings bank, at the time of purchase, could make a mortgage loan of the same amount and for the same length of time on the security of the real estate.(7) For the purchase of loans guaranteed or insured, wholly or in part, by the United States or any of its instrumentalities.(8) For secured or unsecured financing for business, corporate, personal, family, or household purposes, or for secured or unsecured loans for agricultural or commercial purposes, subject to any rules as the Commissioner of Banks may adopt.(9) For the purpose of mobile home financing.(10) For loans secured by no more that ninety percent (90%) of the cash surrender value of any life insurance policy.(11) For loans on any collateral that would be a legal investment if made by the savings bank under this Chapter.(b) Notwithstanding any provision of this Chapter to the contrary, a savings bank may make any loan that the savings bank could make if it were incorporated and operating as a federal association or as a State or national bank. (1991, c. 680, s. 1; 2001-193, s. 16.)
NC Gen Stat § 54C-122 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 7 - Loans and Investments.|§ 54C-122 - Lending procedures.

 54C-122. Lending procedures.(a) The board of directors shall establish procedures by which loans are to be considered, approved, and made by the savings bank.(b) All actions on loan applications to the savings bank shall be reported to the board of directors at its next meeting.(c) Subject to any rules as the Commissioner of Banks deems appropriate, a savings bank may lend funds on any collateral deemed sufficient by the board of directors to properly secure loans. Loans made solely upon security of collateral consisting of stock or equity securities that are not listed on a national stock exchange or regularly quoted and offered for trade on an over-the-counter market are considered loans without security.(d) A savings bank may lend funds without requiring security. No unsecured loan shall exceed the maximum amount authorized by rules of the Commissioner of Banks.(e) A savings bank may make insured or guaranteed loans in accordance with G.S. 53C-5-3.(f) A savings bank may invest any funds on hand in the purchase of loans of a type that the savings bank could make in accordance with this Chapter.(g) A savings bank may invest in a participating interest in loans of a type that the savings bank could make in accordance with this Chapter.(h) A savings bank may sell any loan, including any participating interest in a loan.  (1991, c. 680, s. 1; 2001-193, s. 16; 2012-56, s. 45.)
NC Gen Stat § 54C-123 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 7 - Loans and Investments.|§ 54C-123 - Prohibited security.

 54C-123. Prohibited security.No savings bank may accept its own capital stock or its own mutual capital certificates as security for any loan made by the savings bank. (1991, c. 680, s. 1.)
NC Gen Stat § 54C-124 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 7 - Loans and Investments.|§ 54C-124 - Loans conditioned on certain transactions prohibited.

 54C-124. Loans conditioned on certain transactions prohibited.(a) No savings bank or service corporation thereof shall require, as a condition of making a loan, that the borrower contract with any specific person or organization for particular services.(b) A savings bank or service corporation thereof shall notify borrowers before the loan commitment of their right to select the attorney or law firm rendering legal services in connection with the loan, and the person or organization rendering insurance services in connection with the loan. These persons or organizations shall be approved by the savings bank's board of directors, under any rules as the Commissioner of Banks may prescribe.(c) A savings bank or service corporation thereof may require borrowers to reimburse the savings bank for legal services rendered to it by its own attorney only when the fee is limited to legal services required by the making of the loan. (1991, c. 680, s. 1; 2001-193, s. 16.)
NC Gen Stat § 54C-125 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 7 - Loans and Investments.|§ 54C-125 - Loan expenses and fees.

 54C-125. Loan expenses and fees.(a) Subject to Chapter 24 of the General Statutes, a savings bank may require borrowers to pay all reasonable expenses incurred by the savings bank in connection with making, closing, disbursing, extending, adjusting, or renewing loans. The charges may be collected by the savings bank from the borrower and paid to any persons, including any director, officer, or employee of the savings bank who may render services in connection with the loan, or the charges may be paid directly by the borrower.(b) A savings bank may require a borrower to pay a reasonable charge for late payments made during the course of repayment of a loan. Subject to G.S. 24-10.1, the payments may be levied only upon the terms and conditions that are fixed by the savings bank's board of directors and agreed to by the borrower in the loan contract.(c) Nothing in this Article shall be construed to modify Chapter 24 of the General Statutes, or other applicable law, or to allow fees, charges, or interest beyond that permitted by Chapter 24 of the General Statutes or other applicable law. (1991, c. 680, s. 1.)
NC Gen Stat § 54C-126 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 7 - Loans and Investments.|§ 54C-126 - Methods of loan repayment.

 54C-126. Methods of loan repayment.Subject to any rules as the Commissioner of Banks may prescribe, a savings bank shall agree in writing with borrowers as to the method or plan by which an indebtedness shall be repaid. (1991, c. 680, s. 1; 2001-193, s. 16.)
NC Gen Stat § 54C-127 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 7 - Loans and Investments.|§ 54C-127 - Insider loans.

 54C-127. Insider loans.The Commissioner of Banks may adopt rules no less stringent than the requirements of the appropriate federal regulatory authority to govern the making of loans to officers and directors, and their associates, and companies or other business entities controlled by them. (1991, c. 680, s. 1; 2001-193, s. 16.)
NC Gen Stat § 54C-128 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 7 - Loans and Investments.|§ 54C-128 - Rulemaking power of Commissioner of Banks.

 54C-128. Rulemaking power of Commissioner of Banks.Any rule that the Commissioner of Banks may adopt in respect to loans permitted to be made by State savings banks as may be reasonably necessary to assure that the loans are in keeping with sound lending practices and to promote the purposes of this Chapter shall not prohibit a savings bank from making any loan that is a permitted loan for federal savings banks under federal regulatory authority. (1991, c. 680, s. 1; 2001-193, s. 16.)
NC Gen Stat § 54C-129 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 7 - Loans and Investments.|§ 54C-129 - Nonconforming loans and investments.

 54C-129. Nonconforming loans and investments.Unless otherwise provided, every loan or other investment made in violation of this Chapter is due and payable according to its terms and the obligation thereof is not impaired; provided, that the violation consists only of the lending of an excessive sum on authorized security or of investing in an unauthorized investment. (1991, c. 680, s. 1.)
NC Gen Stat § 54C-130 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 7 - Loans and Investments.|§ 54C-130 - Limitation on loans to one borrower.

 54C-130. Limitation on loans to one borrower.(a) The total loans and extensions of credit, both direct and indirect, by a savings bank to any person, other than a municipal corporation for money borrowed, outstanding at one time and not fully secured, as determined in a manner consistent with subsection (b) of this section, by collateral having a market value at least equal to the amount of the loan or extension of credit shall not exceed fifteen percent (15%) of the net worth of the savings bank. The total liabilities of a firm shall include the liabilities of the members of the firm.(b) The total loans and extensions of credit, both direct and indirect, by a savings bank to any person outstanding at one time and fully secured by readily marketable collateral having a market value, as determined by reliable and continuously available price quotations, at least equal to the amount of the funds outstanding shall not exceed ten percent (10%) of the net worth of the savings bank. This limitation shall be separate from and in addition to the limitation contained in subsection (a) of this section.(c) For purposes of this section, the term "person" is deemed to include an individual or a corporation, partnership, trust, association, joint venture, pool, syndicate, sole proprietorship, unincorporated organization, or any other form of entity not specifically listed in this subsection. Loans or extensions of credit to one person include loans made to other persons when the proceeds of the loans or extensions of credit are to be used for the direct benefit of the first person or when the persons are engaged in a common enterprise.(d) The limitations of this section shall not apply to loans or obligations to the extent that they are secured or covered by guarantees or by commitments or agreements to take over or purchase the same, made by any federal reserve bank or by the United States or any instrumentality of the United States, including any corporation wholly owned directly or indirectly by the United States.(e) The limitations of this section shall not apply to loans or obligations made for the following:(1) For any purpose otherwise permitted by this Chapter, not to exceed five hundred thousand dollars ($500,000);(2) To develop domestic residential housing units, not to exceed the lesser of thirty million dollars ($30,000,000) or thirty percent (30%) of the savings bank's net worth if the purchase price of each single family dwelling unit which is financed under this provision does not exceed five hundred thousand dollars ($500,000) and the loans or obligations made under this provision do not, in the aggregate, exceed one hundred fifty percent (150%) of the savings bank's net worth; or(3) Loans to one borrower to finance the sale of real property acquired in satisfaction of debts previously contracted in good faith, not to exceed fifty percent (50%) of the savings bank's net worth. (1991, c. 680, s. 1.)
NC Gen Stat § 54C-131 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 7 - Loans and Investments.|§ 54C-131 - Investment in banking premises.

 54C-131. Investment in banking premises.A savings bank may invest in real property and equipment and in leasehold improvements to rented facilities necessary for the conduct of its business and in real property to be held for its future use. A savings bank may invest in office buildings and appurtenances for the purpose of the transaction of the savings bank's business. This investment may not be made without the prior written approval of the Commissioner of Banks if the total amount of these investments exceeds fifty percent (50%) of the savings bank's net worth. Facilities, furniture, and fixtures leased for the purpose set forth in this section are not included in this limitation. (1991, c. 680, s. 1; 2001-193, s. 16.)
NC Gen Stat § 54C-132 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 7 - Loans and Investments.|§ 54C-132 - United States obligations.

 54C-132. United States obligations.A savings bank may invest in any obligation issued and fully guaranteed in principal and interest by the United States government or any instrumentality of the United States. (1991, c. 680, s. 1.)
NC Gen Stat § 54C-133 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 7 - Loans and Investments.|§ 54C-133 - North Carolina obligations.

 54C-133. North Carolina obligations.A savings bank may invest in any obligation issued and fully guaranteed in principal and interest by the State or any instrumentality of the State. (1991, c. 680, s. 1.)
NC Gen Stat § 54C-134 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 7 - Loans and Investments.|§ 54C-134 - Federal Home Loan Bank obligations.

 54C-134. Federal Home Loan Bank obligations.A savings bank may invest in the stock of the Federal Home Loan Bank of which the association is a member, and in bonds or other evidences of indebtedness or obligation of any Federal Home Loan Bank. (1991, c. 680, s. 1.)
NC Gen Stat § 54C-135 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 7 - Loans and Investments.|§ 54C-135 - Deposits in depository institutions.

 54C-135. Deposits in depository institutions.A savings bank may invest in certificates of deposit, time-insured deposits, savings accounts, demand deposits, or withdrawable accounts of any banks, associations, or savings banks as are approved by the board of directors of the savings bank. (1991, c. 680, s. 1.)
NC Gen Stat § 54C-136 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 7 - Loans and Investments.|§ 54C-136 - Federal government-sponsored enterprise obligations.

 54C-136. Federal government-sponsored enterprise obligations.A savings bank may invest in stock or other evidences of indebtedness or obligations of Fannie Mae, the Federal Home Loan Mortgage Corporation, or any other federal government sponsored enterprise, or any successor thereto. (1991, c. 680, s. 1; 2001-487, s. 14(e).)
NC Gen Stat § 54C-137 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 7 - Loans and Investments.|§ 54C-137 - Municipal and county obligations.

 54C-137. Municipal and county obligations.A savings bank may invest in bonds or other evidences of indebtedness that are direct general obligations of any county, city, town, village, school district, sanitation, or park district, or other political subdivision or municipal corporation of this State; or in bonds or other evidences of indebtedness that are payable from revenues or earnings specifically pledged therefor, which are issued by a county or a political subdivision or municipal corporation of a county in this State. (1991, c. 680, s. 1.)
NC Gen Stat § 54C-138 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 7 - Loans and Investments.|§ 54C-138 - Stock in education agency.

 54C-138. Stock in education agency.A savings bank may invest in stock or obligations of any corporation doing business in this State, or of any agency of this State or of the United States, where the principal business of the corporation or agency is to make loans for the financing of a college or university education, or education at an industrial education center, technical institute, or community college. (1991, c. 680, s. 1.)
NC Gen Stat § 54C-139 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 7 - Loans and Investments.|§ 54C-139 - Industrial development corporation stock.

 54C-139. Industrial development corporation stock.A savings bank may invest in stock or other evidence of indebtedness or obligations of business or industrial development corporations chartered by this State or by the United States. (1991, c. 680, s. 1.)
NC Gen Stat § 54C-140 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 7 - Loans and Investments.|§ 54C-140 - Urban renewal investment corporation stock.

 54C-140. Urban renewal investment corporation stock.A savings bank may invest in stock or other evidence of indebtedness or obligations of an urban renewal investment corporation chartered under the laws of this State or of the United States. (1991, c. 680, s. 1.)
NC Gen Stat § 54C-141 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 7 - Loans and Investments.|§ 54C-141 - Limitations on investment in stocks and securities.

 54C-141. Limitations on investment in stocks and securities.(a) No savings bank shall make an investment in the capital stock of any other State or federal depository institution that represents more than five percent (5%) of the capital stock of that depository institution.(b) No savings bank shall invest in stock of other than investment grade. No savings bank shall invest in the aggregate more than fifty percent (50%) of its net worth in the stocks of other corporations, firms, partnerships, or companies, unless the stock is purchased to protect the savings bank from loss. Of this amount, no more than two and one-half percent (2 1/2%) of the savings bank's net worth may be invested in the stock or securities of any one issuer. This limitation shall not apply to stock or ownership interests in corporations, firms, partnerships, or companies that are subsidiaries of the savings bank. The term "invest" is deemed to include operating a business entity acquired by the savings bank, provided, however, that no savings bank shall make any investment resulting in operations that are not closely related to the savings bank business without the prior written approval of the Commissioner of Banks. Any stocks owned or hereafter acquired in excess of the limitations imposed in this section shall be disposed of at public or private sale within six months after the date of acquiring the same, and if not so disposed of they shall be charged to the profit and loss account, and no longer carried on the books as an asset. The limit of time in which the stocks are disposed of or charged off the books of the savings bank may be extended by the Commissioner of Banks if the Commissioner of Banks determines it is in the best interest of the savings bank that the extension be granted.(c) This limitation shall not apply with respect to obligations of the government of the United States or its agencies, or to other obligations guaranteed by the United States, North Carolina, or any other state, or of a city, town, township, county, school district, or other political subdivision of this State. (1991, c. 680, s. 1; 2001-193, s. 16.)
NC Gen Stat § 54C-142 (2021)
2021 North Carolina General Statutes|Chapter 54C - Savings Banks|Article 7 - Loans and Investments.|§ 54C-142 - Suspension of investment and loan limitation.

 54C-142. Suspension of investment and loan limitation.The board of directors of any savings bank may, by resolution duly passed at a meeting of the board, request the Commissioner of Banks to suspend temporarily the limitations on loans and investments as they may apply to any particular loan or investment in excess of the limitations of G.S. 54C-130 and G.S. 54C-141 that the savings bank desires to make. Upon receipt of a duly certified copy of the resolution, the Commissioner of Banks may suspend the limitations on loans and investments insofar as they would apply to the loan or investment that the savings bank desires to make, as long as every loan or investment is amply secured and is for a period not longer than 36 months. (1991, c. 680, s. 1; 2001-193, s. 16.)