reglab/housing_qa huggingface dataset:
NC Gen Stat § 53C-10-103 (2021)
2021 North Carolina General Statutes|Chapter 53C - Regulation of Banks|Article 10 - Bank Holding Companies.|§ 53C-10-103 - Application regarding a control transaction.

 53C-10-103. Application regarding a control transaction.(a) A person seeking approval of a control transaction to which a holding company of a bank is a party under this Article shall file the following with the Commissioner:(1) An application in the form prescribed by the Commissioner.(2) All filing fees required by rule of the Commissioner.(3) Any other information required by a rule of the Commissioner or deemed by the Commissioner to achieve the objectives of this Chapter.(b) In the event a person submitting an application is a group of persons, the Commissioner may require each member of the group to submit information relevant to the application.(c) Notwithstanding any laws to the contrary, information about the character, competence, or experience of an acquiring person or its proposed management personnel or affiliates shall be deemed a confidential record of the Commissioner subject to G.S. 53C-2-7(b).  (2012-56, s. 4.)
NC Gen Stat § 53C-10-104 (2021)
2021 North Carolina General Statutes|Chapter 53C - Regulation of Banks|Article 10 - Bank Holding Companies.|§ 53C-10-104 - Public notice.

 53C-10-104. Public notice.A person filing an application for approval of a control transaction shall publish a public notice of the filing of the application not more than 30 days before nor more than 10 days after the filing of the application with the Commissioner. The public notice shall contain the following:(1) A statement that the application has been filed with the Commissioner.(2) The name of the applicable holding company and the address of its principal office.(3) A statement that any interested person may make written comment on the proposed control transaction and that comments received by the Commissioner within 14 days of the publication of the public notice shall be considered. The public notice shall provide the current mailing address of the Commissioner.  (2012-56, s. 4.)
NC Gen Stat § 53C-10-105 (2021)
2021 North Carolina General Statutes|Chapter 53C - Regulation of Banks|Article 10 - Bank Holding Companies.|§ 53C-10-105 - Actions on control transaction applications.

 53C-10-105. Actions on control transaction applications.(a) The Commissioner shall examine the proposed control transaction, including the character, competence, and experience of the acquiring person and its proposed management personnel, to determine whether the financial stability of the holding company or the interests of the customers served by one or more bank subsidiaries of the holding company would be adversely affected by the proposed control transaction. Not later than the 60th day following receipt of a completed application for approval of a control transaction unless extraordinary circumstances require a longer period of review, the Commissioner shall approve or deny the application.(b) The Commissioner may deny an application for approval of a control for any of the following reasons:(1) The financial condition of the person seeking approval of a control transaction could jeopardize the financial stability of the holding company, one or more bank subsidiaries of the holding company, or the financial interests of the bank's customers.(2) An examination of the character, competence, or experience of any acquiring person or of any of the proposed management personnel of the holding company shows that it would not be in the interest of the customers of one or more of the bank subsidiaries of the holding company or in the interest of the public to permit the person to control the holding company.(3) The plans or proposals of the person seeking approval with respect to exercising control over the holding company would not be in the best interests of the customers of one or more bank subsidiaries of the holding company.(4) Upon the effective date of the proposed control transaction, one or more of the bank subsidiaries of the holding company would not be solvent, have inadequate capital, or not be in compliance with this Chapter or rules of the Commissioner.(5) The application for approval is incomplete.(6) If the acquiring person solicits votes for the approval of or consents to the control transaction from the holders of the voting securities of the holding company, adequate and complete disclosures of all material information about the proposed control transaction, together with a prominent statement that neither the control transaction nor any solicitation of such holders' votes or consents has been approved by the Commissioner and that any representation to the contrary is a criminal offense, have not been made to the holders.(c) If an application filed under this Part is approved by the Commissioner, the control transaction may become effective. All conditions to approval set forth in the order of the Commissioner shall be enforceable against the person, and each member of a group of persons, receiving the approval.  (2012-56, s. 4.)
NC Gen Stat § 53C-10-106 (2021)
2021 North Carolina General Statutes|Chapter 53C - Regulation of Banks|Article 10 - Bank Holding Companies.|§ 53C-10-106 - Appeal.

 53C-10-106. Appeal.Any order of the Commissioner denying an application for approval of a control transaction may be appealed to the Commission by the person filing the application denied, as provided in G.S. 53C-2-6.  (2012-56, s. 4.)
NC Gen Stat § 53C-10-201 (2021)
2021 North Carolina General Statutes|Chapter 53C - Regulation of Banks|Article 10 - Bank Holding Companies.|§ 53C-10-201 - Combination authority.

 53C-10-201. Combination authority.With the approval of the Commissioner, a holding company of a bank may combine with one or more other holding companies or other companies. The application for approval shall be in the form required by the Commissioner and shall be accompanied by such fee as may be required by rule.  (2012-56, s. 4.)
NC Gen Stat § 53C-10-202 (2021)
2021 North Carolina General Statutes|Chapter 53C - Regulation of Banks|Article 10 - Bank Holding Companies.|§ 53C-10-202 - Combination application and investigation.

 53C-10-202. Combination application and investigation.(a) A holding company of a bank seeking approval of a combination shall file with the Commissioner an application for approval, copies of the agreement under which the holding company proposes to effect the combination, and any additional information that the Commissioner shall require by rule or as is required by the Commissioner in connection with the application in order to achieve the objectives of this Chapter.(b) A holding company filing an application for approval of a combination shall publish a public notice of the filing of the application not more than 30 days before nor more than 10 days after the filing of the application with the Commissioner. The public notice shall contain the following:(1) A statement that the application has been filed with the Commissioner.(2) The names of the parties to the proposed combination and the addresses of its principal offices.(3) A statement that any interested person may make written comment on the proposed combination and that comments received by the Commissioner within 14 days of the publication of the public notice shall be considered. The public notice shall provide the current mailing address of the Commissioner.(c) The Commissioner shall examine the proposed combination, including the character, competency, and experience of the proposed directors and executive officers of the surviving party of the combination, to determine whether the interests of the customers and communities served by the banks controlled by the parties to the combination would be adversely affected by the proposed combination.(d) Notwithstanding any laws to the contrary, information about the character, competence, and experience of the directors and executive officers of the parties to a combination received by the Commissioner shall be deemed a confidential record of the Commissioner subject to G.S. 53C-2-7(b).  (2012-56, s. 4.)
NC Gen Stat § 53C-10-203 (2021)
2021 North Carolina General Statutes|Chapter 53C - Regulation of Banks|Article 10 - Bank Holding Companies.|§ 53C-10-203 - Decision on application.

 53C-10-203. Decision on application.Based on the application and the Commissioner's examination, the Commissioner shall enter an order approving or denying approval of the proposed combination not later than the 60th day following the date the Commissioner notifies the parties that the application is complete, unless extraordinary circumstances require a longer period of review.  (2012-56, s. 4.)
NC Gen Stat § 53C-10-204 (2021)
2021 North Carolina General Statutes|Chapter 53C - Regulation of Banks|Article 10 - Bank Holding Companies.|§ 53C-10-204 - Appeal.

 53C-10-204. Appeal.Any order of the Commissioner denying an application for approval of a combination may be appealed to the Commission by a party to the combination, as provided in G.S. 53C-2-6.  (2012-56, s. 4.)
NC Gen Stat § 53C-10-301 (2021)
2021 North Carolina General Statutes|Chapter 53C - Regulation of Banks|Article 10 - Bank Holding Companies.|§ 53C-10-301 - Cease and desist order.

 53C-10-301. Cease and desist order.Upon a finding that any action of a holding company subject to registration under this Article, or its nonbank affiliate, may be in violation of any banking laws, the Commissioner, after a reasonable notice to the holding company and an opportunity for it to be heard, shall have the authority to order it to cease and desist from such action. If the holding company fails to appeal the decision within 10 days of the date of the issuance of the order in accordance with G.S. 53C-2-6, and continues to engage in the action in violation of the Commissioner's order to cease and desist such action, it shall be subject to a civil money penalty of twenty thousand dollars ($20,000) for each day it remains in violation of the order. The penalty provision of this section shall be in addition to and not in lieu of any other provision of law applicable to a holding company's failure to comply with an order of the Commissioner. The clear proceeds of the civil money penalty shall be remitted to the Civil Penalty and Forfeiture Fund in accordance with G.S. 115C-457.2.  (2012-56, s. 4; 2013-29, s. 21.)
NC Gen Stat § 53C-10-302 (2021)
2021 North Carolina General Statutes|Chapter 53C - Regulation of Banks|Article 10 - Bank Holding Companies.|§ 53C-10-302 - Other control changes.

 53C-10-302. Other control changes.Each holding company of a bank shall report to the Commissioner any changes in its directors, president, chief executive officer, or chief financial officer by the close of the second day on which the holding company is open for business following the change.  (2012-56, s. 4.)
NC Gen Stat § 53C-10-303 (2021)
2021 North Carolina General Statutes|Chapter 53C - Regulation of Banks|Article 10 - Bank Holding Companies.|§ 53C-10-303 - Fees.

 53C-10-303. Fees.A holding company subject to this Article shall pay the following fees:(1) An initial registration fee of one thousand dollars ($1,000).(2) An annual registration fee of seven hundred fifty dollars ($750.00).(3) A fee of fifty dollars ($50.00) for the issuance of any certified copies of documents plus one dollar ($1.00) per page over a number of pages specified by the Commissioner.  (1983 (Reg. Sess., 1984), c. 1113, s. 1; 2017-165, s. 11.)
NC Gen Stat § 54-45 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 8 - Organization and Powers.|§ 54-45 - Application of term.

 54-45. Application of term.The term "land and loan associations" shall apply to and include all corporations, companies, societies or associations organized for the purpose of making loans to their members only, and of enabling their members to acquire real estate, make improvements thereon, and remove encumbrances therefrom by the payment of money in periodical installments or principal sums, and for the accumulation of a fund to be returned to members who do not obtain advances for such purposes, where the principles of building and loan associations and their work are adapted to the use of the farmers and the rural population.It shall be unlawful for any corporation, company, society, or association doing business in this State not so conducted to use in its corporate name the term "land and loan association," or in any manner or device to hold itself out to the public as a land and loan association. (1915, c. 172, s. 1; C.S., s. 5204.)
NC Gen Stat § 54-46 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 8 - Organization and Powers.|§ 54-46 - Incorporation and powers.

 54-46. Incorporation and powers.Land and loan associations shall be incorporated, supervised, and be subject to such regulations and have such privileges as are prescribed for building and loan associations under the laws of this State as they now are or may be hereafter enacted, except as prescribed in this Article. (1915, c. 172, s. 2; C.S., s. 5205.)
NC Gen Stat § 54-47 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 8 - Organization and Powers.|§ 54-47 - Loans.

 54-47. Loans.The board of directors of land and loan associations may contract for loans to the amount of seventy-five percent (75%) of the securities used by them as collateral, where the loans are on long time (three or more years), and for at least one percent (1%) less than is charged by such associations on their loans to shareholders; and they may make short loans to their shareholders on their shares and personal endorsement or personal property. (1915, c. 172, s. 3; C.S., s. 5206.)
NC Gen Stat § 54-48 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 8 - Organization and Powers.|§ 54-48 - Reserve associations.

 54-48. Reserve associations.Associations to be known as "reserve land and loan associations" may be chartered and licensed as provided in this Article, when they are organized and the stock therein is held by local land and loan associations, and shall have such powers, rights, and privileges as are accorded to other domestic associations, and they may conform to such laws, rules, and regulations as may be prescribed by the laws of the United States, or of this State, to enable them to receive moneys, bonds, or securities to be used in loans and to secure the same. Such reserve associations shall be under the supervision of the Commissioner of Banks as are building and loan associations. (1915, c. 172, s. 4; C.S., s. 5207; 1971, c. 864, s. 17; 1989, c. 76, s. 14; 2001-193, s. 16.)
NC Gen Stat § 54-49 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 8 - Organization and Powers.|§ 54-49 - Land Conservation and Development Bureau; land mortgage associations.

 54-49. Land Conservation and Development Bureau; land mortgage associations.Recognizing that agriculture is the most fundamental wealth-producing occupation of the State and that land is the basis of agriculture, the General Assembly of North Carolina does hereby authorize and direct the State Department of Agriculture and Consumer Services to establish as a major division of its organization a Land Conservation and Land Development Bureau. The function of this Bureau shall be to promote conservation, rural home ownership, and the development of the land resources of the State through land mortgage associations under the following provisions. (1925, c. 223, s. 1; 1997-261, s. 109.)
NC Gen Stat § 54-50 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 8 - Organization and Powers.|§ 54-50 - Number of incorporators; capital stock.

 54-50. Number of incorporators; capital stock.Any number of persons, resident freeholders of the State, not less than 15, may associate to establish an association on the terms and conditions and subject to the liabilities hereinafter prescribed. The aggregate amount of the capital stock of any such association shall not be less than twenty thousand dollars ($20,000). Such association shall mean a corporation organized under the laws of the State for the purpose of making loans upon agricultural lands, forest lands and dwelling houses within this State and known as a land mortgage association. (1925, c. 223, s. 2.)
NC Gen Stat § 54-51 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 8 - Organization and Powers.|§ 54-51 - Incorporation.

 54-51. Incorporation.The articles of incorporation shall be in writing, signed and acknowledged by the incorporators and shall contain the following:(1) The declaration that they are associating for the purpose of forming a land mortgage association under the provisions of this Article.(2) The name of such association, which shall be in no material respect similar to any other association in the same county.(3) The name of the village, town or city, and the county where such association is to be located.(4) The amount of capital stock, which shall be divided into shares of one hundred dollars ($100.00) each.(5) The period for which such association is organized. (1925, c. 223, s. 3.)
NC Gen Stat § 54-52 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 8 - Organization and Powers.|§ 54-52 - Organization.

 54-52. Organization.The incorporators at their first annual meeting shall elect by ballot from their number a board of trustees of not less than six members who shall adopt a code of bylaws and a plan of organization approved by the Commissioner of Agriculture and the Commissioner of Banks. (1925, c. 223, s. 4; 1931, c. 243, s. 5.)
NC Gen Stat § 54-53 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 8 - Organization and Powers.|§ 54-53 - Corporate powers.

 54-53. Corporate powers.Said land mortgage association shall have power:(1) To make loans, the conditions of which shall be approved by the Commissioner of Banks if the security taken therefor is to be used as the basis for a bond issue under subdivision (3) hereof, and to accept as security for any such loan a first mortgage upon improved or partially improved agricultural lands within this State. Such loan shall not exceed, however, sixty-five percent (65%) of the value of such real estate so conveyed, according to the appraisal made as herein provided.(2) To purchase first mortgages, heretofore or hereafter issued against North Carolina agricultural lands, either improved or partially improved, from persons or firms resident of this State or corporations organized under the laws of this State engaged in the colonization or settlement of North Carolina lands and to whom such mortgages were issued, if, after investigation, the plan of settlement or colonization followed by such person, firm or corporation is approved by the Commissioner of Agriculture as beneficial to the settler or colonist, and if the lands against which such mortgages are issued are found by the said Commissioner to be in fact agricultural lands suitable for agricultural purposes and the terms and conditions of the loans made by such person, firm or corporation are just and reasonable, or from banks or trust companies organized under the laws of this State, or of the United States, to do business in this State, to which such mortgages were issued direct by the borrowers. Each such mortgage shall be payable on the amortization plan maturing in not less than 20 years. The request for an investigation leading to such a purchase of mortgages from persons, firms or corporations engaged in the settlement or colonization of North Carolina lands shall be accompanied by a deposit, the amount of such deposit to be determined by the Commissioner of Agriculture. Upon completion of the investigation the Commissioner of Agriculture shall render a statement of expense accompanied by a remittance of any unused balance of such deposit, but no mortgage shall be purchased until the lands against which the same is issued have been appraised as hereinafter provided for the appraisal of land for a loan by the land mortgage association and such mortgage is approved by all members of the loan committee.(3) To issue bonds secured by the pledge of the mortgage so taken or purchased.(4) To pledge the note and mortgages so taken or purchased under the provisions of subdivisions (1) and (2) hereof as security for the bonds of the land mortgage association referred to in subdivision (3) hereof. (1925, c. 223, s. 5; 1931, c. 243, s. 5.)
NC Gen Stat § 54-54 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 8 - Organization and Powers.|§ 54-54 - Restrictions.

 54-54. Restrictions.All mortgage obligations acquired by the company shall be subject to the following restrictions:(1) Each such mortgage shall be a first and valid lien upon improved or partially improved agricultural lands within the State of North Carolina;(2) Each such mortgage shall be a first and valid lien upon the whole and undivided fee and upon no lesser estate;(3) Each such mortgage shall be given to secure a principal indebtedness not exceeding in amount fifteen percent (15%) of the capital and surplus of the company;(4) All such mortgages shall contain provisions for soil conservation;(5) All such mortgages shall contain provisions for the time of commencing payments for annual or semiannual reduction of the indebtedness secured thereby, subject to the requirements as to repayment of loans and interest hereinafter provided;(6) The company shall make no loan secured by mortgage of any real estate in which any officer or trustee of the company is interested either directly or indirectly, except upon the approval of two thirds of all the trustees;(7) A sufficient amount of the proceeds of any loan made upon lands upon which are buildings in course of construction or upon which land clearing or other improvements are being made shall be retained by the association and paid out only upon construction or improvement vouchers, countersigned by a duly authorized agent of the association. (1925, c. 223, s. 6.)
NC Gen Stat § 54-55 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 8 - Organization and Powers.|§ 54-55 - Mortgage forms; approval.

 54-55. Mortgage forms; approval.The mortgages to be given to the association, the bonds to be issued and the trust deed executed to secure the bonds shall be in such form and shall contain such conditions as will adequately protect all parties thereto. The trustees shall provide the forms subject to the joint approval of the Commissioner of Banks and the Attorney General. (1925, c. 223, s. 7; 1931, c. 243, s. 5.)
NC Gen Stat § 54-56 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 8 - Organization and Powers.|§ 54-56 - Repayment of loan and interest.

 54-56. Repayment of loan and interest.The prospective borrower may be required to pay all expenses incidental to the examination of title and appraisal of the property. The total amount shall include (i) the rate of interest agreed upon; and (ii) a payment. (1925, c. 223, s. 8.)