reglab/statecodes huggingface dataset:
2023 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.)
2023 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.)
2023 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.)
2023 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.)
2023 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.)
2023 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.)
2023 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.)
2023 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.)
2023 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.)
2023 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.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 17B - Interstate Branch Banking. › § 53-224.10 - Purpose.

§ 53-224.10. Purpose.
It is the express intent of this Part to permit interstate branching under sections 102 and 103 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, Public Law 103-328, in accordance with the provisions in this Part. (1995, c. 322, s. 2.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 17B - Interstate Branch Banking. › § 53-224.11 - Interstate branching by North Carolina State banks.

§ 53-224.11. Interstate branching by North Carolina State banks.
(a) With the prior approval of the Commissioner, any North Carolina State bank may establish and maintain a de novo branch or acquire a branch in a state other than North Carolina.
(b) A North Carolina State bank desiring to establish and maintain a branch in another state under this section shall file an application on a form prescribed by the Commissioner. If the Commissioner finds that the applicant has the financial resources sufficient to undertake the proposed expansion without adversely affecting its safety or soundness and that the establishment of the proposed branch is in the public interest, the Commissioner may approve the application. In acting on the application, the Commissioner shall consider the views of the appropriate bank supervisory agencies. The applicant bank may establish the branch when it has received the written approval of the Commissioner. (1995, c. 322, s. 2; 2012-56, s. 17.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 17B - Interstate Branch Banking. › § 53-224.12 - Interstate branching by de novo entry.

§ 53-224.12. Interstate branching by de novo entry.
An out-of-state bank that does not have a branch in North Carolina and that meets the requirements of this Article may establish and maintain a de novo branch in this State. (1995, c. 322, s. 2.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 17B - Interstate Branch Banking. › § 53-224.13 - Interstate branching through the acquisition of a branch.

§ 53-224.13. Interstate branching through the acquisition of a branch.
An out-of-state bank that does not have a branch in North Carolina and that meets the requirements of this Article may establish and maintain a branch in this State through the acquisition of a branch. (1995, c. 322, s. 2.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 17B - Interstate Branch Banking. › § 53-224.14 - Requirement of notice and other conditions.

§ 53-224.14. Requirement of notice and other conditions.
(a) An out-of-state bank desiring to establish and maintain a de novo branch or to acquire a branch in this State shall provide written notice of the proposed transaction to the Commissioner not later than the date on which the bank applies to the responsible federal bank supervisory agency for approval to establish or acquire the branch. The filing of such notice shall be accompanied by the filing fee prescribed by the Commissioner by regulation.
(b) The out-of-state bank shall comply with the applicable requirements of Article 15 of Chapter 55 of the North Carolina General Statutes.
(c) An out-of-state bank may establish and maintain a de novo branch or may establish and maintain a branch through acquisition of a branch if:
(1) In the case of a de novo branch, the laws of the home state of the out-of-state bank permit North Carolina banks to establish and maintain de novo branches in that state under substantially the same terms and conditions as herein set forth; and
(2) In the case of a branch established through the acquisition of a branch, the laws of the home state of the out-of-state bank permit North Carolina banks to establish and maintain branches in that state through the acquisition of branches under substantially the same terms and conditions as herein set forth. (1995, c. 322, s. 2; 1997-54, s. 1; 1999-72, s. 3.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 17B - Interstate Branch Banking. › § 53-224.15 - Conditions for approval.

§ 53-224.15. Conditions for approval.
In the case of notice under G.S. 53-224.14 by an out-of-state state bank, the notice shall be subject to approval by the Commissioner, which approval shall be effective only if:
(1) The bank confirms in writing to the Commissioner that as long as it maintains a branch in North Carolina, it will comply with all applicable laws of this State.
(2) The Commissioner, acting within 60 days after receiving notice of an application under G.S. 53-224.14, certifies to the responsible federal bank supervisory agency that the requirements of this Part have been met by the bank. (1995, c. 322, s. 2.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 17B - Interstate Branch Banking. › § 53-224.16 - Powers.

§ 53-224.16. Powers.
(a) An out-of-state state bank which establishes and maintains one or more branches in North Carolina under this Article may conduct any activities at such branch or branches that are authorized under the laws of this State for North Carolina State banks, except to the extent such activities may be prohibited by other laws, regulations, or orders applicable to the out-of-state state bank.
(b) A North Carolina State bank may conduct any activities at a branch outside of North Carolina that are permissible for a bank chartered by the host state where the branch is located, except to the extent such activities are expressly prohibited by the laws of this State or by any regulation or order of the Commissioner applicable to the North Carolina State bank. (1995, c. 322, s. 2.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 17B - Interstate Branch Banking. › § 53-224.17 - Purpose.

§ 53-224.17. Purpose.
It is the express intent of this Part to permit interstate branching by merger under section 102 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, Public Law 103-328, in accordance with the provisions of this Part. (1995, c. 322, s. 2.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 17B - Interstate Branch Banking. › § 53-224.18 - Authority of State banks to establish interstate branches by merger.

§ 53-224.18. Authority of State banks to establish interstate branches by merger.
With the prior approval of the Commissioner, a North Carolina State bank may establish, maintain, and operate one or more branches in a state other than North Carolina pursuant to an interstate merger transaction in which the North Carolina State bank is the resulting bank. Not later than the date on which the required application for the interstate merger transaction is filed with the responsible federal bank supervisory agency, the applicant North Carolina State bank shall file an application on a form prescribed by the Commissioner. The applicant shall also comply with the applicable provisions of Part 2 of Article 7 of Chapter 53C of the General Statutes. If the Commissioner finds that (i) the proposed transaction will not be detrimental to the safety and soundness of the applicant or the resulting bank, (ii) any new officers and directors of the resulting bank are qualified by character, experience, and financial responsibility to direct and manage the resulting bank, and (iii) the proposed merger is consistent with the convenience and needs of the communities to be served by the resulting bank in this State and is otherwise in the public interest, it shall approve the interstate merger transaction and the operation of branches outside of North Carolina by the North Carolina State bank. Such an interstate merger transaction may be consummated only after the applicant has received the Commissioner's written approval. (1995, c. 322, s. 2; 2012-56, s. 18.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 17B - Interstate Branch Banking. › § 53-224.19 - Interstate merger transactions and branching permitted.

§ 53-224.19. Interstate merger transactions and branching permitted.
One or more North Carolina banks may enter into an interstate merger transaction with one or more out-of-state banks under this Article, and an out-of-state bank resulting from such an interstate merger transaction may maintain and operate the branches in North Carolina of a merged North Carolina bank provided that the conditions and filing requirements of this Article are met. (1995, c. 322, s. 2.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 17B - Interstate Branch Banking. › § 53-224.20 - Notice and filing requirements.

§ 53-224.20. Notice and filing requirements.
Any out-of-state bank that will be the resulting bank pursuant to an interstate merger transaction involving a North Carolina bank shall notify the Commissioner of the proposed merger not later than the date on which it files an application for an interstate merger transaction with the responsible federal bank supervisory agency, and shall submit a copy of that application to the Commissioner and pay the filing fee required by the Commissioner. All banks which are parties to such interstate merger transaction involving a North Carolina State bank shall comply with Part 2 of Article 7 of Chapter 53C of the General Statutes and with other applicable state and federal laws. Any out-of-state bank which shall be the resulting bank in such an interstate merger transaction shall comply with Article 15 of Chapter 55 of the North Carolina General Statutes. (1995, c. 322, s. 2; 2012-56, s. 19.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 17B - Interstate Branch Banking. › § 53-224.21 - Conditions for interstate merger prior to June 1, 1997.

§ 53-224.21. Conditions for interstate merger prior to June 1, 1997.
An interstate merger transaction prior to June 1, 1997, involving a North Carolina bank shall not be consummated, and any out-of-state bank resulting from such a merger shall not operate any branch in North Carolina, unless the laws of the home state of each out-of-state bank involved in the interstate merger transaction permit North Carolina banks under substantially the same terms and conditions as are set forth in Part 3 to acquire banks and establish and maintain branches in that state by means of interstate merger transactions. (1995, c. 322, s. 2; 1995 (Reg. Sess., 1996), c. 742, s. 22.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 17B - Interstate Branch Banking. › § 53-224.22 - Powers.

§ 53-224.22. Powers.
(a) An out-of-state state bank which establishes and maintains one or more branches in North Carolina under this Article may conduct any activities at such branch or branches that are authorized under the laws of this State for North Carolina State banks, except to the extent such activities may be prohibited by other laws, regulations, or orders applicable to the out-of-state state bank.
(b) A North Carolina State bank may conduct any activities at a branch outside of North Carolina that are permissible for a bank chartered by the host state where the branch is located, except to the extent such activities are expressly prohibited by the laws of this State or by any regulation or order of the Commissioner applicable to the North Carolina State bank. (1995, c. 322, s. 2.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 17B - Interstate Branch Banking. › § 53-224.23 - Applicability of supervisory authority.

§ 53-224.23. Applicability of supervisory authority.
The supervisory powers and other provisions set forth in G.S. 53-224.24 through G.S. 53-224.31 shall apply to Parts 2 and 3 of this Article. (1995, c. 322, s. 2.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 17B - Interstate Branch Banking. › § 53-224.24 - Examinations; periodic reports; cooperative agreements; assessment of fees.

§ 53-224.24. Examinations; periodic reports; cooperative agreements; assessment of fees.
(a) The Commissioner may make such examinations of any branch of an out-of-state state bank established under this Article and located in this State as the Commissioner may deem necessary to determine whether the branch is operating in compliance with the laws of this State and to ensure that the branch is being operated in a safe and sound manner. The provisions of Article 8 of Chapter 53C of the General Statutes apply to such examinations.
(b) The Commissioner may require periodic reports regarding any branch in North Carolina of an out-of-state bank to the extent that comparable reports are required from North Carolina State banks. Such reports shall be filed under oath with such frequency and in such scope and detail as may be appropriate for the purpose of assuring continuing compliance with the provisions of this Article.
(c) The Commissioner may enter into cooperative, coordinating, and information-sharing agreements with any other bank supervisory agencies or any organization affiliated with or representing one or more bank supervisory agencies with respect to the periodic examination or other supervision of any branch in North Carolina of an out-of-state state bank, or any branch of a North Carolina State bank in a host state, and the Commissioner may accept such parties' reports of examination and reports of investigation in lieu of conducting an additional examination or investigation. The Commissioner may enter into joint examinations or joint enforcement actions with other bank supervisory agencies having concurrent jurisdiction over any branch in North Carolina of an out-of-state state bank or any branch of a North Carolina State bank in any host state; provided, however, that the Commissioner may at any time take such actions independently if the Commissioner deems such actions to be necessary or appropriate to carry out the Commissioner's responsibilities under this Article and to ensure compliance with the laws of this State.
(d) Each out-of-state state bank that maintains one or more branches in this State may be assessed and, if assessed, shall pay supervisory and examination fees in accordance with the laws of this State and regulations of the Commissioner. Such fees may be shared with other bank supervisory agencies or any organization affiliated with or representing one or more bank supervisory agencies in accordance with agreements between such parties and the Commissioner. (1995, c. 322, s. 2; 2012-56, s. 20.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 17B - Interstate Branch Banking. › § 53-224.25 - Enforcement.

§ 53-224.25. Enforcement.
If the Commissioner determines that a branch maintained by an out-of-state state bank in this State is being operated in violation of any provision of the laws of this State, or that such branch is being operated in an unsafe and unsound manner, the Commissioner shall have the authority to take all such enforcement actions as the Commissioner would be empowered to take if the branch were a North Carolina State bank. (1995, c. 322, s. 2.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 17B - Interstate Branch Banking. › § 53-224.26 - Rules.

§ 53-224.26. Rules.
The Commissioner, subject to review and approval of the North Carolina State Banking Commission, may adopt rules needed to implement this Article. Chapter 150B of the General Statutes governs the adoption of rules by the Commissioner. (1995, c. 322, s. 2.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 17B - Interstate Branch Banking. › § 53-224.27 - Additional branches.

§ 53-224.27. Additional branches.
An out-of-state bank that has a branch in North Carolina may establish and acquire additional branches in this State to the same extent as a North Carolina State bank or to the same extent otherwise permitted by federal law. (1995, c. 322, s. 2.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 17B - Interstate Branch Banking. › § 53-224.28 - Notice of subsequent merger or other change in control.

§ 53-224.28. Notice of subsequent merger or other change in control.
An out-of-state bank that maintains a branch in this State established pursuant to this Article shall give 30 days' prior written notice to the Commissioner of any merger, consolidation, or other transaction that would cause a change of control with respect to such out-of-state bank or any bank holding company that controls such bank, with the result that an application would be required to be filed pursuant to the federal Change in Bank Control Act of 1978, as amended, 12 U.S.C. § 1817(j) or the federal Bank Holding Company Act of 1956, as amended, 12 U.S.C. § 1841 et seq., or any successor statutes thereto. (1995, c. 322, s. 2.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 17B - Interstate Branch Banking. › § 53-224.29 - Branch closings.

§ 53-224.29. Branch closings.
An out-of-state state bank that is subject to an order or written agreement revoking its authority to establish or maintain a branch in North Carolina and any North Carolina State bank that is subject to an order or written agreement revoking its authority to establish or maintain a branch in another state shall wind up the business of that branch in an orderly manner that protects the depositors, customers, and creditors of the branch and that complies with all North Carolina laws and all other applicable laws regarding the closing of the branch. (1995, c. 322, s. 2.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 17B - Interstate Branch Banking. › § 53-224.30 - Appeal of Commissioner's decision.

§ 53-224.30. Appeal of Commissioner's decision.
Any aggrieved party in a proceeding under this Article may, within 20 days after final decision of the Commissioner, appeal, in writing, such decision to the North Carolina 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 Commission shall be entitled to petition for judicial review pursuant to G.S. 53C-2-6. (1995, c. 322, s. 2; 2009-57, s. 5; 2012-56, s. 21.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 17B - Interstate Branch Banking. › § 53-224.31 - Severability.

§ 53-224.31. Severability.
If any provision of this Article or the application of such provision is found invalid as to any bank, branch, bank holding company, person, or circumstances, or shall otherwise be deemed superseded by federal law, the remaining provisions of this Article shall not be affected and shall remain valid and in effect as to any bank, branch, bank holding company, person, or circumstance. (1995, c. 322, s. 2.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 18 - Bank Holding Company Act of 1984. › §§ 53-232: Recodified as G.S. 53C-10-303 by Session Laws 2017-165, s. 11, effective July 21, 2017.

§ 53-232: Recodified as G.S. 53C-10-303 by Session Laws 2017-165, s. 11, effective July 21, 2017.
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 18A - North Carolina International Banking Act. › § 53-232.1 - Title and scope.

§ 53-232.1. Title and scope.
(a) This act shall be known and cited as the North Carolina International Banking Act.
(b) This Article is intended to set forth the terms and conditions under which an international banking corporation may enter and do business in North Carolina. (1991, c. 679, s. 1.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 18A - North Carolina International Banking Act. › § 53-232.2 - Definitions.

§ 53-232.2. Definitions.
(a) The following definitions apply in this Article:
(1) Commissioner. – The North Carolina Commissioner of Banks.
(2) Federal international bank institution. – A branch, agency, or representative office of an international banking corporation established and operating under the federal International Banking Act of 1978, 12 U.S.C. §§ 3101 et seq., as amended, and its regulations.
(3) Foreign country. – A country other than the United States, but including a territory or possession of the United States.
(4) International bank agency. – A business or any part of a banking business conducted in this State or through an office located in this State, other than a federal international bank institution, which exercises powers as set forth in G.S. 53-232.9(f) on behalf of an international banking corporation.
(5) International bank branch. – A business or any part of a banking business conducted in this State or through an office located in this State, other than a federal international bank institution, which exercises powers as set forth in G.S. 53-232.9(e) on behalf of an international banking corporation.
(6) International banking corporation. – A banking corporation organized and licensed under the laws of a foreign country or a political subdivision of a foreign country.
(7) International representative office. – A business location of a representative of an international banking corporation, other than a federal international bank institution, established to act in a liaison capacity with existing and potential customers of the international banking corporation and to generate new loans and other activities for the international banking corporation that is operating outside the State.
(b) Legal and financial terms used in this Article refer to equivalent terms used by the country in which the international banking corporation is organized. (1991, c. 679, s. 1.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 18A - North Carolina International Banking Act. › § 53-232.3 - Authority to establish and operate federal international bank institutions, international bank branches, international bank agencies, and international representative offices.

§ 53-232.3. Authority to establish and operate federal international bank institutions, international bank branches, international bank agencies, and international representative offices.
(a) An international banking corporation with a home state other than North Carolina may establish and operate, directly or indirectly, a federal international bank institution in this State in accordance with applicable federal law.
(b) An international banking corporation with no home state may establish and operate, directly or indirectly, a federal international bank institution in this State in accordance with applicable federal law.
(c) An international banking corporation with a home state other than North Carolina may establish and operate, directly or indirectly, an international bank branch, an international bank agency, or an international representative office in accordance with this Article and applicable federal law.
(d) An international banking corporation with no home state may establish and operate, directly or indirectly, an international bank branch, an international bank agency, or an international representative office in accordance with this Article and applicable federal law.
(e) For the purposes of this section, the home state of an international banking corporation that has branches, agencies, subsidiary commercial lending companies, or subsidiary banks, or any combination of branches, agencies, subsidiary commercial lending companies, or subsidiary banks in more than one state is whichever of the states is so elected by the international banking corporation. If the international banking corporation does not elect a home state, the Board of Governors of the Federal Reserve System or the Commissioner, as applicable, shall elect the home state. (1991, c. 679, s. 1.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 18A - North Carolina International Banking Act. › § 53-232.4 - Application of this Chapter.

§ 53-232.4. Application of this Chapter.
(a) International banking corporations, other than federal international bank institutions, are subject to Articles 1 through 14 and Articles 17 and 18 of this Chapter, except where it appears, from the context or otherwise, that a provision is clearly applicable only to banks or trust companies organized under the laws of this State or the United States. An international banking corporation has no greater right under, or by virtue of, this Article than is granted to banks organized under the laws of this State.
(b) Nothing in this Article is construed as granting any authority, directly or indirectly, for a domestic bank or domestic bank holding company, the operations of which are conducted principally outside this State, to operate a branch in this State or to acquire, directly or indirectly, any voting shares of, or interest in, or all or substantially all of the assets of a bank in this State. (1991, c. 679, s. 1.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 18A - North Carolina International Banking Act. › § 53-232.5 - Application of the North Carolina Business Corporation Act.

§ 53-232.5. Application of the North Carolina Business Corporation Act.
Notwithstanding the definition of the term "foreign corporation" in G.S. 55-1-40(10), Article 15 of Chapter 55, relating to foreign corporations, where it is not inconsistent with Chapter 53, shall apply to all international banking corporations doing business in this State. (1991, c. 679, s. 1.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 18A - North Carolina International Banking Act. › § 53-232.6 - Requirements for carrying on banking business.

§ 53-232.6. Requirements for carrying on banking business.
(a) No international banking corporation, other than a federal international bank institution, shall transact a banking business or maintain in this State any office for carrying on a banking business or any part of a banking business unless the corporation:
(1) Is authorized by its Articles to carry on a banking business and has complied with the laws of the country under which it is chartered;
(2) Has furnished to the Commissioner any proof as to the nature and character of its business and as to its financial condition as the Commissioner may require;
(3) Has filed with the Commissioner:
a. A duly executed instrument in writing, by its terms of indefinite duration and irrevocable, appointing the Commissioner its true and lawful attorney upon whom all process in any action against it may be served with the same force and effect as if it were a domestic corporation and had been lawfully served with process within the State;
b. A written certificate of designation, which may be changed from time to time thereafter by the filing of a new certificate of designation, specifying the name and address of the officer, agent, or other person to whom the Commissioner shall forward the process; and
c. A certified copy of that information required to be supplied by foreign corporations to the Secretary of State by Article 15 of Chapter 55 of the General Statutes.
(4) Has paid to the Commissioner the fee established by regulation to defray the cost of investigation and supervision; and
(5) Has received a license duly issued to it by the Commissioner.
(b) The Commissioner shall not issue a license to an international banking corporation unless it is chartered in a foreign country that permits banks chartered in the United States or any of its states to establish similar facilities in that country. (1991, c. 679. s. 1.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 18A - North Carolina International Banking Act. › § 53-232.7 - Actions against international banking corporations.

§ 53-232.7. Actions against international banking corporations.
(a) A resident of this State may maintain an action against an international banking corporation doing business in this State for any cause of action. For purposes of this subsection, the term "resident of this State" includes any individual domiciled in this State, or any corporation, partnership, or trust formed under the laws of this State.
(b) An international banking corporation or a nonresident of this State may maintain an action against an international banking corporation doing business in this State in the following cases only:
(1) Where the action is brought to recover damages for the breach of a contract made or to be performed within this State or relating to property situated within this State at the time of the making of the contract;
(2) Where the subject matter of the litigation is situated within this State;
(3) Where the cause of action arose within this State, except where the object of the action is to affect the title of real property situated outside this State; or
(4) Where the action is based on a liability for acts done within this State by an international banking corporation or its international bank agency, international bank branch, or international representative office.
(c) The limitations contained in subsection (b) of this section do not apply to a corporation formed and existing under the laws of the United States and that maintains an office in this State. (1991, c. 679, s. 1.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 18A - North Carolina International Banking Act. › § 53-232.11 - Financial certification; restrictions on investments, loans, and acceptances.

§ 53-232.11. Financial certification; restrictions on investments, loans, and acceptances.
(a) Before opening an office in this State, and annually thereafter so long as a bank office is maintained in this State, an international banking corporation licensed under this Article shall certify to the Commissioner the amount of its paid-in capital, its surplus, and its undivided profits, each expressed in the currency of the country of its incorporation. The dollar equivalent of this amount, as determined by the Commissioner, is considered to be the amount of its capital, surplus, and undivided profits.
(b) Purchases and discounts of bills of exchange, bonds, debentures, and other obligations and extensions of credit and acceptances by an international bank agency within this State are subject to the same limitations as to amount in relation to capital, surplus, and undivided profits as are applicable to banks organized under the laws of this State. With the prior approval of the Commissioner, the capital notes and capital debentures of the international banking corporation may be treated as capital in computing the limitations. (1991, c. 679, s. 1.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 18A - North Carolina International Banking Act. › § 53-232.12 - Reports.

§ 53-232.12. Reports.
(a) An international banking corporation licensed under this Article shall, at the times and in the form prescribed by the Commissioner, make written reports in the English language to the Commissioner, under the oath of one of its officers, managers, or agents transacting business in this State, showing the amount of its assets and liabilities and containing any other matters required by the Commissioner. If an international banking corporation fails to make a report, as directed by the Commissioner, or if a report contains a false statement knowingly made, this is grounds for revocation of the license of the international banking corporation.
(b) Repealed by Session Laws 2012-56, s. 22, effective October 1, 2012. (1991, c. 679, s. 1; 2012-56, s. 22.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 18A - North Carolina International Banking Act. › § 53-232.13 - Dissolution.

§ 53-232.13. Dissolution.
(a) When an international banking corporation licensed to maintain an international bank branch or an international bank agency in this State is dissolved or its authority or existence is otherwise terminated or canceled in the jurisdiction of its incorporation, a certificate of the official responsible for records of banking corporations of the jurisdiction of incorporation of the international banking corporation attesting to the occurrence of this event or a certified copy of an order or decree of a court of the jurisdiction directing the dissolution of the international banking corporation or the termination of its existence or the cancellation of its authority shall be delivered to the Commissioner. The filing of the certificate, order, or decree has the same effect as the revocation of the international banking corporation's license as provided in G.S. 53-232.9(d).
(b) An international banking corporation that proposes to terminate the operation in this State of an international bank branch, an international bank agency, or an international representative office in this State shall comply with any procedures as the Commissioner may prescribe by rule to insure an orderly cessation of business in a manner that is not harmful to the public interest and shall surrender its license to the Commissioner or shall surrender its right to maintain an office in this State, as applicable.
(c) The Commissioner shall continue as agent of the international banking corporation upon whom process against it may be served in any action based upon any liability or obligation incurred by the international banking corporation within this State before the filing of the certificate, order, or decree; and the Commissioner shall promptly cause a copy of the process to be mailed by registered or certified mail, return receipt requested, to the international banking corporation at the post office address specified for this purpose on file with the Commissioner's office. (1991, c. 679, s. 1.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 18A - North Carolina International Banking Act. › § 53-232.14 - International representative offices.

§ 53-232.14. International representative offices.
(a) An international banking corporation that does not transact a banking business or any part of a banking business in or through an office in this State, but maintains an office in this State for other purposes is considered to have an international representative office in this State.
(b) An international representative office located in this State shall register with the Commissioner annually on forms prescribed by the Commissioner. The registration shall be filed before January 31 of each year, shall be accompanied by a registration fee prescribed by regulation, and shall list the name of the local representative, the street address of the office, and the nature of the business to be transacted in or through the office.
(c) The Commissioner may review the operations of an international representative office annually or at any greater frequency as is necessary to assure that the office does not transact a banking business.
(d) An international banking corporation desiring to convert its existing registered international representative office to a licensed international bank branch or licensed international bank agency shall submit to the Commissioner the application required by G.S. 53-232.8, and is required to meet the minimum criteria for licensing of an international bank branch or licensed international bank agency under this Article.
(e) An international representative office may act in a liaison capacity with existing and potential customers of an international banking corporation and in undertaking these activities may, through its employees or agents, without limitation, solicit loans, assemble credit information, make proprietary inspections and appraisals, complete loan applications and other preliminary paperwork in preparation for making a loan, but may not solicit or accept deposits. No international representative office shall conduct any banking business or part of a banking business in this State. (1991, c. 679, s. 1.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 18A - North Carolina International Banking Act. › § 53-232.16 - Cease and desist.

§ 53-232.16. Cease and desist.
Upon a finding that any action of an international banking corporation or its international banking agency, international banking branch, or international representative office subject to this Article may be in violation of any North Carolina banking law, the Commissioner, after a reasonable notice to the international banking corporation, international bank agency, international bank branch, or international representative office and an opportunity for it to be heard, may order it to cease and desist from the action. If the international banking corporation, international bank agency, international bank branch, or international representative office fails to appeal the decision in accordance with G.S. 53-232.17 and continues to engage in the action in violation of the Commissioner's order to cease and desist the action, it is subject to a penalty of one thousand dollars ($1,000), to be recovered with costs by the Commissioner in any court of competent jurisdiction in a civil action prosecuted by the Commissioner. This penalty is in addition to and not in lieu of any other law applicable to the failure of an international banking corporation, international bank agency, international bank branch, or international representative office to comply with an order of the Commissioner.
The clear proceeds of penalties provided for in this section shall be remitted to the Civil Penalty and Forfeiture Fund in accordance with G.S. 115C-457.2. (1991, c. 679, s. 1; 1998-215, s. 33.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 18A - North Carolina International Banking Act. › § 53-232.17 - Appeal of Commissioner's decision.

§ 53-232.17. Appeal of Commissioner's decision.
Any aggrieved party in a proceeding under this Article may, within 20 days after final decision of the Commissioner, appeal such decision in writing to the 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 Banking Commission shall be entitled to petition for judicial review pursuant to G.S. 53C-2-6. (1991, c. 679, s. 1; 1995, c. 129, s. 34; 2009-57, s. 7; 2012-56, s. 23.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 19B - The Secure and Fair Enforcement Mortgage Licensing Act. › § 53-244.010 - Title.

§ 53-244.010. Title.
This act may be cited as the "North Carolina Secure and Fair Enforcement (S.A.F.E.) Mortgage Licensing Act." (2009-374, s. 2.)
2023 North Carolina General Statutes › Chapter 53 - Regulation of Financial Services › Article 19B - The Secure and Fair Enforcement Mortgage Licensing Act. › § 53-244.020 - Purpose and construction.

§ 53-244.020. Purpose and construction.
(a) Purpose. – A primary purpose of this Article is to protect consumers seeking mortgage loans and to ensure that the mortgage lending industry operates without unfair, deceptive, and fraudulent practices on the part of mortgage loan originators. Therefore, the General Assembly establishes within this Article an effective system of supervision and enforcement of the mortgage lending industry by giving the Commissioner of Banks broad administrative authority to administer, interpret, and enforce this Article and adopt rules implementing this Article in order to carry out the intentions of the General Assembly.
(b) Construction. – It is the intent of the General Assembly that provisions of this Article be liberally construed to effect the purposes stated or clearly encompassed by the Article. (2009-374, s. 2.)