reglab/housing_qa huggingface dataset:
NC Gen Stat § 53-208.51 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 16B - Money Transmitters Act.|§ 53-208.51 - Prohibited practices.

 53-208.51. Prohibited practices.No person required to be licensed under this Article shall do any of the following:(1) Fail to remit all money or monetary value received for transmission pursuant to G.S. 53-208.42(13)b., or give instructions committing equivalent money or monetary value to the person designated by the sender within 10 days after receipt by the licensee unless otherwise directed by the sender.(2) Fail to immediately notify the Commissioner in writing if the licensee dishonors or fails to satisfy any money transmission transaction within the 10 days following receipt for any reason other than direction by the sender.(3) Engage in the business of money transmission in the State under any name other than that under which it is organized or otherwise authorized to do business in the State.(4) Fail to comply with the Federal Bank Secrecy Act, 31 U.S.C. 5311, et seq., and 31 C.F.R. Part 1022, including maintenance of active registration with the United States Department of Treasury Financial Crimes Enforcement Network.(5) Fail to comply with the Federal Electronic Funds Transfer Act, 12 U.S.C. 1693, et seq., and Regulation E, 12 C.F.R. 1005, et seq.(6) Fail to safeguard identifying information obtained in the course of money transmission and otherwise comply with the requirements set forth under G.S. 75-60, et seq.(7) Fail to comply with applicable State and federal laws and regulations related to the business of money transmission.(8) Use or cause to be published or disseminated any advertising communication which contains any false, misleading, or deceptive statement or representation.(9) Engage in unfair, deceptive, or fraudulent practices.  (2016-81, s. 1; 2017-102, ss. 14.1(d), 46.)
NC Gen Stat § 53-208.52 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 16B - Money Transmitters Act.|§ 53-208.52 - Maintenance of records.

 53-208.52. Maintenance of records.(a) Each licensee shall maintain such books, accounts, and other records as the Commissioner may require for a period of no less than three years unless the Commissioner, by rule, prescribes otherwise for particular types of records. Such records shall be segregated from any other business in which the licensee is engaged and, at a minimum, include:(1) A record or records of each payment instrument sold.(2) A general ledger containing all assets, liability, capital, income, and expense accounts, which general ledger shall be posted at least monthly.(3) Settlement sheets received from authorized delegates.(4) Bank statements and bank reconciliation records.(5) Records of outstanding transmissions, payment instruments, and stored value.(6) Records of each payment instrument paid within the three-year period.(7) A list of the names and addresses of all of the licensee's proposed authorized delegates, if any, and a copy of each written agreement in conformance with G.S. 53-208.44(c)(1).(b) Maintenance of the documents required by this section in the form of any digital or electronic medium shall constitute compliance with this section provided records remain readily convertible into legible, tangible documents and shall be treated as originals for the purposes of any examination or investigation conducted pursuant to this Article.(c) All records required to be maintained shall be secured against unauthorized access and damage and may be maintained at a location outside this State so long as they are made accessible to the Commissioner on seven days' written notice.(d) All records required to be maintained under this Article shall be prepared in accordance with generally accepted accounting principles, where applicable.(e) A licensee shall notify the Commissioner of any change in the location of its records within 10 days following such change.  (2016-81, s. 1; 2017-102, s. 46.)
NC Gen Stat § 53-208.53 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 16B - Money Transmitters Act.|§ 53-208.53 - Reporting.

 53-208.53. Reporting.(a) Annual Report. No later than 90 days after the end of the calendar year, licensees shall file an annual report in a form prescribed by the Commissioner through NMLS, which shall include:(1) A copy of its most recent audited consolidated annual financial statement, including balance sheet, statement of income or loss, statement of changes in shareholder's equity, if applicable, and statement of changes in financial position, or, in the case of a licensee that is a wholly owned subsidiary of another corporation, the consolidated audited annual financial statement of the parent corporation may be filed in lieu of the licensee's audited financial statement;(2) The total amount of outstanding transmission obligations;(3) Any material changes to any of the information submitted by the licensee on its original application, which have not been previously reported to the Commissioner on any other report required to be filed under this Article;(4) Copies of bank statements and other documentation necessary to document the existence and quality of the licensee's permissible investments; and(5) A list of the branch offices at which business regulated by this Article is being conducted by either the licensee or its authorized delegates.(b) Quarterly Reports. No later than 60 days after the calendar quarter has ended, licensees shall file a quarterly call report in a form prescribed by the Commissioner through NMLS, which shall at a minimum include:(1) The number and dollar volume of money transmission transactions in the State by activity type; and(2) The total amount of outstanding transmission obligations.(c) Other Reports of Condition. A licensee shall submit to the Commissioner through the NMLS reports of condition and any other reports requested by the Commissioner in order to carry out the purposes of this Article.(d) Timely Reporting. - Failure to timely submit any reports required under this section is grounds for summary suspension pursuant to G.S. 53-208.57(d)(2).  (2016-81, s. 1; 2017-102, ss. 14.1(e), 46.)
NC Gen Stat § 53-208.54 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 16B - Money Transmitters Act.|§ 53-208.54 - Notice of Material Event.

 53-208.54. Notice of Material Event.(a) Within 15 days of a change or acquisition of control of a licensee, the licensee shall provide notice of the event to the Commissioner through NMLS in writing and in a form prescribed by the Commissioner. The notice shall be accompanied by any information, data, and records required by the Commissioner.(b) Within 15 days of the occurrence of any one of the events listed below, a licensee shall file a written report with the Commissioner through NMLS describing the event and its expected impact on the licensee's activities in the State:(1) The filing for bankruptcy or reorganization by the licensee.(2) The institution of revocation or suspension proceedings against the licensee by any State or governmental authority with regard to the licensee's money transmission activities.(3) Any felony indictment of the licensee or any controlling person or key management personnel related to money transmission activities.(4) Any felony conviction of the licensee or any controlling person or key management personnel related to money transmission activities.(c) If the information contained in any document filed with the Commissioner or the NMLS is or becomes inaccurate or incomplete in any material respect, the licensee or applicant shall within 30 days file a correcting amendment to the information contained in the document.  (2016-81, s. 1; 2017-102, s. 46.)
NC Gen Stat § 53-208.56 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 16B - Money Transmitters Act.|§ 53-208.56 - Licensure authority.

 53-208.56. Licensure authority.The Commissioner may by order, deny, suspend, revoke, or refuse to issue a license under this Article, or may restrict or limit the manner in which a licensee or applicant engages in the business of money transmission, if the Commissioner finds both of the following:(1) That the order is in the public interest.(2) Any of the following circumstances apply:a. Any fact or condition exists that, if it had existed at the time of application, would have been grounds for denial.b. The licensee or applicant has filed any application, report, or other document with the Commissioner containing statements that, in light of the circumstances in which they were made, were false or misleading with respect to a material fact.c. The licensee or applicant fails at any time to meet the requirements of G.S. 53-208.46, 53-208.47, or 53-208.48.d. A controlling person or key management personnel of the licensee or applicant has been convicted of any of the following:1. A misdemeanor in the last 10 years involving fraud, money laundering, theft or wrongful taking of property, bribery, perjury, forgery, counterfeiting, extortion, or conspiracy to commit any of these offenses or involving any financial service or financial service-related business.2. Any felony in the last seven years.e. The licensee or applicant has violated or failed to comply with any provision of this Article, rule issued pursuant to this Article, or order of the Commissioner.f. The licensee has conducted its business in an unsafe or unsound manner.g. The licensee or applicant is insolvent, has suspended payment of its obligations, has made an assignment for the benefit of its creditors, or has admitted in writing its inability to pay its debts as they become due.h. The licensee fails to respond to and cooperate fully with notices from the Commissioner or the Commissioner's designee related to the scheduling and conducting of an examination or investigation pursuant to G.S. 53-208.55.i. The licensee or applicant fails to respond to inquiries from the Commissioner or the Commissioner's designee regarding any complaints filed, which allege or involve violation of this Article.j. The licensee fails to make any report required by this Article.k. The licensee or applicant is permanently or temporarily enjoined by any court of competent jurisdiction from engaging in or continuing any conduct or practice involving any aspect of the money transmission business.l. The licensee or applicant is the subject of an order entered within the past five years by the authority of any state or federal agency with jurisdiction over the business of money transmission.  (2016-81, s. 1; 2017-102, s. 46; 2018-142, s. 10(b).)
NC Gen Stat § 53-208.58 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 16B - Money Transmitters Act.|§ 53-208.58 - Criminal penalties.

 53-208.58. Criminal penalties.(a) Any person who knowingly and willfully violates any provision of this Article for which a penalty is not specifically provided is guilty of a Class 1 misdemeanor.(b) Any person who knowingly and willfully makes a material, false statement in any document filed or required to be filed under this Article with the intent to deceive the recipient of the document is guilty of a Class 1 misdemeanor.(c) Any person who knowingly and willfully engages in the business of money transmission without a license as provided herein shall be guilty of a Class 1 misdemeanor.  (2016-81, s. 1; 2017-102, s. 46.)
NC Gen Stat § 53-208.59 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 16B - Money Transmitters Act.|§ 53-208.59 - Confidentiality.

 53-208.59. Confidentiality.(a) Notwithstanding any other provision of law, all information or reports obtained by the Commissioner from an applicant, licensee, or authorized delegate, whether obtained through reports, applications, examination, audits, investigation, or otherwise, including (i) all information contained in or related to examination, investigation, operating, or condition reports prepared by, on behalf of, or for the use of the Commissioner; and (ii) financial statements, balance sheets, or authorized delegate information are subject to confidential treatment as set forth under G.S. 53C-2-7.(b) The Commissioner is authorized to enter agreements or sharing arrangements with other governmental agencies or associations representing governmental agencies and may share otherwise confidential information pursuant to these written agreements, but only to the extent permitted by G.S. 53C-2-7(d). Information shared pursuant to the agreements authorized under this section shall retain any and all applicable privilege and related confidentiality protections provided by State or federal law.(c) Nothing in this section shall prohibit the Commissioner from releasing to the public a list of persons licensed under this Article or aggregated financial data on those licensees.  (2016-81, s. 1; 2017-102, s. 46.)
NC Gen Stat § 53-208.60 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 16B - Money Transmitters Act.|§ 53-208.60 - Rules.

 53-208.60. Rules.(a) The State Banking Commission may adopt rules necessary to implement this Article.(b) Pursuant to G.S. 53C-2-6(b), any person aggrieved by any rule or order of the Commissioner under this Act may appeal to the State Banking Commission for review upon providing notice in writing within 20 days after the act complained of is adopted, issued, or done. Notwithstanding any other provision of law, any aggrieved party to a decision of the State Banking Commission shall be entitled to petition for judicial review pursuant to G.S. 53C-2-6(b).  (2016-81, s. 1; 2017-102, s. 46.)
NC Gen Stat § 53-208.61 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 16B - Money Transmitters Act.|§ 53-208.61 - Service of process.

 53-208.61. Service of process.(a) Any person subject to this Article is deemed to have:(1) Consented to the jurisdiction of the courts of this State for all actions arising under this Article; and(2) Appointed the Secretary of State as such person's agent for the purpose of accepting service of process in any action, suit, or proceeding that may arise under this Article.(b) For the purposes of this Article, the Commissioner shall be deemed to have complied with the requirements of law concerning service of process upon mailing by certified mail any notice required or permitted to a person subject to this Article, postage prepaid and addressed to the last known address on file with the Commissioner.  (2016-81, s. 1; 2017-102, s. 46.)
NC Gen Stat § 53-208.62 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 16B - Money Transmitters Act.|§ 53-208.62 - Commissioner's participation in nationwide registry.

 53-208.62. Commissioner's participation in nationwide registry.(a) The Commissioner may require all persons subject to this Article to be licensed through the NMLS, and upon issuing this requirement, the Commissioner shall establish a reasonable transition period. In order to carry out these requirements, the Commissioner may participate in the NMLS.(b) The Commissioner may establish relationships or contracts with the NMLS or other entities designated by the NMLS to collect and maintain records and process transaction fees or other fees related to licensees or other persons subject to this Article.(c) For the purpose of participating in the NMLS, the Commissioner may waive or modify, in whole or in part, any or all of the requirements as reasonably necessary to participate in the NMLS.  (2016-81, s. 1; 2017-102, s. 46; 2018-142, s. 10(c).)
NC Gen Stat § 53-208.63 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 16B - Money Transmitters Act.|§ 53-208.63 - Severability.

 53-208.63. Severability.Should any provision, sentence, clause, section, or part of this Article for any reason be held unconstitutional, illegal, or invalid, such unconstitutionality, illegality, or invalidity shall not affect or impair any of the remaining provisions, sentences, clauses, sections, or parts of this Article.  (2016-81, s. 1; 2017-102, s. 46.)
NC Gen Stat § 53-208.64 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 16B - Money Transmitters Act.|§ 53-208.64 - Transition.

 53-208.64. Transition.Any person who holds in good standing a money transmitters license issued by the Commissioner on or after November 1, 2014, may continue to engage in such business subject to the requirements of this Article.  (2016-81, s. 1; 2017-102, s. 46.)
NC Gen Stat § 53-209 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 17 - North Carolina Reciprocal Interstate Banking Act.|§ 53-209 - Title.

 53-209. Title.This Article shall be known and may be cited as the North Carolina Reciprocal Interstate Banking Act. (1983 (Reg. Sess., 1984), c. 1113, s. 1; 1993, c. 175, s. 7; 1993 (Reg. Sess., 1994), c. 599, s. 1.)
NC Gen Stat § 53-212.1 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 17 - North Carolina Reciprocal Interstate Banking Act.|§ 53-212.1 - Bank agent for deposit institution affiliate.

 53-212.1. Bank agent for deposit institution affiliate.A bank may act as the agent of any depository institution affiliate in receiving deposits, renewing time deposits, closing loans, servicing loans, and receiving payments on loans and other obligations, without being deemed a branch of such affiliate, in accordance with Section 101(d) of the Reigle-Neal Interstate Banking and Branching Efficiency Act of 1994. An affiliate for the purposes of this section shall include (i) an affiliate as defined in Section 2(k) of the Bank Holding Company Act of 1956, as amended (12 U.S.C. 1841(k)), and (ii) an affiliate as defined in Section 23A(b)(1) of the Federal Reserve Act, as amended (12 U.S.C. 371c(b)(1)), but without regard to whether the bank or the affiliate is a member of the Federal Reserve System. (1995 (Reg. Sess., 1996), c. 557, s. 1; 1997-241, s. 2.1; 1997-456, s. 39.)
NC Gen Stat § 53-213 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 17 - North Carolina Reciprocal Interstate Banking Act.|§ 53-213 - Prohibitions.

 53-213. Prohibitions.(a) Except as expressly permitted by this Article or by federal law, no out-of-state bank holding company shall acquire a North Carolina bank holding company or a North Carolina bank.(b) Repealed by Session Laws 1993, c. 175, s. 11. (1983 (Reg. Sess., 1984), c. 1113, s. 1; 1993, c. 175, s. 11; 1993 (Reg. Sess., 1994), c. 599, s. 1.)
NC Gen Stat § 53-214 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 17 - North Carolina Reciprocal Interstate Banking Act.|§ 53-214 - Applicable laws, rules and regulations.

 53-214. Applicable laws, rules and regulations.(a) Any North Carolina bank that is controlled by a bank holding company that is not a North Carolina bank holding company shall be subject to all laws of this State and all rules and regulations under such laws that are applicable to North Carolina banks that are controlled by North Carolina bank holding companies.(b) The State Banking Commission shall adopt rules to implement and effectuate the provisions of this Article. (1983 (Reg. Sess., 1984), c. 1113, s. 1; 1993, c. 175, s. 4; 1993 (Reg. Sess., 1994), c. 599, s. 2.)
NC Gen Stat § 53-215 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 17 - North Carolina Reciprocal Interstate Banking Act.|§ 53-215 - Appeal of Commissioner's decision.

 53-215. Appeal of Commissioner's decision.Any aggrieved party in a proceeding under G.S. 53-211, 53C-10-102, or 53C-10-201 may, within 20 days after final decision of the Commissioner, appeal in writing any decision to the State Banking Commission. An appeal under this section shall be made pursuant to G.S. 53C-2-6. Notwithstanding any other provision of law, any aggrieved party to a decision of the State Banking Commission shall be entitled to petition for judicial review pursuant to G.S. 53C-2-6.  (1983 (Reg. Sess., 1984), c. 1113, s. 1; 1985, c. 683, s. 3; 1993, c. 175, ss. 5, 12; 1993 (Reg. Sess., 1994), c. 599, s. 1; 2009-57, s. 4; 2012-56, s. 15.)
NC Gen Stat § 53-216 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 17 - North Carolina Reciprocal Interstate Banking Act.|§ 53-216 - Periodic reports; interstate agreements.

 53-216. Periodic reports; interstate agreements.The Commissioner may from time to time require reports under oath in such scope and detail as he may reasonably determine of each out-of-state bank holding company subject to this Article for the purpose of assuring continuing compliance with the provisions of this Article.The Commissioner may enter into cooperative agreements with other bank regulatory authorities for the periodic examination of any out-of-state bank holding company that has a North Carolina bank subsidiary and may accept reports of examination and other records from such authorities in lieu of conducting its own examinations. The Commissioner may enter into joint actions with other bank regulatory authorities having concurrent jurisdiction over any out-of-state bank holding company that has a North Carolina bank subsidiary or may take such actions independently to carry out its responsibilities under this Article and assure compliance with the provisions of this Article and the applicable banking laws of this State. (1983 (Reg. Sess., 1984), c. 1113, s. 1; 1993, c. 175, s. 13; 1993 (Reg. Sess., 1994), c. 599, s. 1.)
NC Gen Stat § 53-217 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 17 - North Carolina Reciprocal Interstate Banking Act.|§ 53-217 - Enforcement.

 53-217. Enforcement.The Commissioner shall have the power to enforce the provisions of this Article through an action in any court of this State or any other state or in any court of the United States, as provided in G.S. 53C-8-12, for the purpose of obtaining an appropriate remedy for violation of any provision of this Article.  (1983 (Reg. Sess., 1984), c. 1113, s. 1; 1993, c. 175, s. 14; 1993 (Reg. Sess., 1994), c. 599, s. 1; 2012-56, s. 16.)
NC Gen Stat § 53-218 (2021)
2021 North Carolina General Statutes|Chapter 53 - Regulation of Financial Services|Article 17 - North Carolina Reciprocal Interstate Banking Act.|§ 53-218 - Nonseverability.

 53-218. Nonseverability.It is the purpose of this Article 17 to facilitate orderly development within North Carolina of banking organizations that have banking offices in more than one state. It is not the purpose of this Article to authorize acquisitions of North Carolina bank holding companies or North Carolina banks by bank holding companies that do not have their principal place of business in this State on any basis other than as expressly provided in this Article. Therefore, if any portion of this Article pertaining to the terms and conditions for and limitations upon acquisition of North Carolina bank holding companies and North Carolina banks by bank holding companies that do not have their principal place of business in this State is determined to be invalid for any reason by a final nonappealable order of any North Carolina or federal court of competent jurisdiction, then this entire Article shall be null and void in its entirety and shall be of no further force or effect from the effective date of such order: Provided, however, that any transaction that has been lawfully consummated pursuant to this Article prior to a determination of invalidity shall be unaffected by such determination. (1983 (Reg. Sess., 1984), c. 1113, s. 1; 1993, c. 175, s. 15; 1993 (Reg. Sess., 1994), c. 599, s. 1.)