reglab/statecodes huggingface dataset:
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter F - SERVICE CORPORATIONS AND FINANCE SUBSIDIARIES › Section 16F .0102 - INVESTMENT LIMITATION

Current through Register Vol. 39, No. 2, July 15, 2024
Investments in a service corporation include not only stock
				  and other securities of a service corporation, such as notes, bonds and
				  debentures, but also any loans, secured or unsecured, to the service
				  corporation. The investment limitation established by
				  G.S.
				  54B-194 and
				  G.S.
				  54C-144 applies to the total investment that
				  a savings institution can make in one or in any number of service corporations.
				  A secured loan to a state-wide multi-owned service corporation shall not be
				  included in the assets investment limitation.
Authority
				  G.S.
				  54B-55;
				  54B-194;
				  54C-53;
				  54C-144;
Eff. August
				  31, 1981;
Amended Eff. July 1, 1990; October 1, 1982;
Temporary Amendment Eff. October 2, 1991 for a period of 180 days to expire on
				  March 31, 1992;
Amended Eff. May 11, 1992;
Pursuant to
				  G.S.
				  150B-21.3A, rule is necessary without
				  substantive public interest Eff. November 22,
				  2018.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter F - SERVICE CORPORATIONS AND FINANCE SUBSIDIARIES › Section 16F .0103 - DEBT LIMITATION FOR WHOLLY OWNED SERVICE CORPORATIONS

Current through Register Vol. 39, No. 2, July 15, 2024
The aggregate amount of secured and unsecured debt that a
				  wholly-owned service corporation may have outstanding at any one time to the
				  savings institution and to non-stockholders shall not exceed:
(1) ten times the total of the service
				corporation's net worth and unsecured debt to the savings institution;
				or
(2) twenty times the total if
				the service corporation engages in originating, investing in, selling,
				purchasing, servicing, or otherwise dealing in (including brokerage or
				warehousing) loans and participations in loans, that are underwritten in
				accordance with the savings institution's lending policy and secured by real
				estate or liens on mobile homes.
Authority
				  G.S.
				  54B-55;
				  54B-194;
				  54C-53;
				  54C-144;
Temporary
				  Amendment Eff. October 2, 1991 for a period of 180 days to expire on March 31,
				  1992;
Eff. August 31, 1981;
Amended Eff. November 1,
				  2017; May 11, 1992;
Pursuant to
				  G.S.
				  150B-21.3A, rule is necessary without
				  substantive public interest Eff. November 22,
				  2018.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter F - SERVICE CORPORATIONS AND FINANCE SUBSIDIARIES › Section 16F .0104 - REPEALED - STOCK IN A SERVICE CORPORATION

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
				  G.S.
				  54B-55;
				  54B-194;
Eff. August
				  31, 1981;
Repealed Eff. July 1,
				  1990.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter F - SERVICE CORPORATIONS AND FINANCE SUBSIDIARIES › Section 16F .0105 - AMENDMENTS TO ARTICLES OF INCORPORATION OR BYLAWS

Current through Register Vol. 39, No. 2, July 15, 2024
(a) Prior
				to filing with the Secretary of State of North Carolina, a service corporation
				shall file with the Commissioner of Banks copies of any proposed amendment to
				its articles of incorporation. The Commissioner of Banks must approve the form
				and content of the proposed amendment.
(b) Before the bylaws or any amendments to
				the bylaws of a service corporation shall become effective, a certified copy of
				the bylaws or amendments shall be filed with and approved by the Commissioner
				of Banks. If the Commissioner of Banks fails to act upon the bylaws or
				amendment within 60 days of receipt, the bylaws or amendment shall be deemed
				approved.
Authority
				  G.S.
				  54B-55;
				  54B-194;
				  54C-53;
				  54C-144;
Eff. August
				  31, 1981;
Amended Eff. November 1, 2017; December 1, 2011; July 1,
				  1990;
Pursuant to
				  G.S.
				  150B-21.3A, rule is necessary without
				  substantive public interest Eff. November 22,
				  2018.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter F - SERVICE CORPORATIONS AND FINANCE SUBSIDIARIES › Section 16F .0106-.0113

Current through Register Vol. 39, No. 2, July 15, 2024
Filed as a Temporary
				  Amendment Eff. October 2, 1991 for a period of 180 days to expire on March 31,
				  1992;
Authority
				  G.S.
				  54B-55;
				  54B-77;
				  54B-195;
				  54C-53;
				  54C-144;
				  54C-146;
Eff. October
				  1, 1984;
Amended Eff. December 1, 2011; May 11, 1992;
Repealed Eff. November 1, 2017.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0100 - SCOPE › Section 16G .0101-0102

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54B-33;
Eff. January 1,
					 1980;
Transferred From
					 4 NCAC
					 09I Eff. August 31, 1981;
Amended
					 Eff. September 1, 1983;
Repealed Eff. January 1,
					 1986.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0100 - SCOPE › Section 16G .0103 - DEFINITIONS

Current through Register Vol. 39, No. 2, July 15, 2024
As used in this Subchapter the words and phrases defined by
					 G.S.
					 54C-4 and the following definitions
					 apply:
(1) "An affiliate of," or "a
				  person affiliated with" used in connection with another specified person shall
				  mean a person that directly, or indirectly through one or more intermediaries,
				  controls or is under common control with the person specified.
(2) "Amount," when used in regard to
				  securities, shall mean the principal amount if relating to evidences of
				  indebtedness, the number of shares if relating to shares of stock, or the
				  number of units if relating to any other kind of security.
(3) "Applicant" shall mean a savings
				  institution that has applied to convert to stock ownership pursuant to this
				  Subchapter.
(4) "Broker" shall mean
				  any person engaged in the business of effecting transactions in securities for
				  the account of others.
(5) "Dealer"
				  shall mean any person who engages either for all or part of their time,
				  directly or indirectly, as agent, broker, or principal, in the business of
				  offering, buying, selling, or otherwise dealing or trading in securities issued
				  by another person.
(6) "Deposit
				  account" shall mean that part of the liability of the savings institution that
				  is credited to the account of the holder including certificates of
				  deposit.
(7) "Eligibility record
				  date" shall mean the record date for determining eligible account holders of a
				  converting savings institution.
(8)
				  "Eligible account holder" shall mean any person holding a qualifying deposit as
				  determined in accordance with Rule .0313 of this Subchapter.
(9) "Employee" shall not mean a director or
				  executive officer of a savings institution.
(10) "Equity security" shall mean the
				  following:
(a) any stock or similar
				  security;
(b) any security
				  convertible, with or without considerations, into a security, or carrying any
				  warrant or right to subscribe to or purchase a security; or
(c) any warrant or right to subscribe to or
				  purchase a security.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0100 - SCOPE › Section 16G .0104 - GENERAL REQUIREMENTS

Current through Register Vol. 39, No. 2, July 15, 2024
(a) No application
				  for conversion shall be approved by the Commissioner of Banks unless:
(1) The conversion shall be conducted in
				  compliance with G.S. 54B or G.S. 54C, and this Subchapter and pursuant to a
				  plan of conversion approved by the Commissioner of Banks; and
(2) The conversion shall not result in a
				  taxable reorganization under the Internal Revenue Code.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0100 - SCOPE › Section 16G .0105 - REPEALED - APPLICATION FOR CONVERSION

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992.
Repealed Eff. November 1,
					 2017.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0100 - SCOPE › Section 16G .0106 - CONFIDENTIAL INFORMATION

Current through Register Vol. 39, No. 2, July 15, 2024
An applicant that submits information as part of an
					 application may request that the information be confidential by separately
					 binding and labeling the information as "confidential," and a statement shall
					 be submitted setting forth the grounds on which the information should be
					 treated as confidential pursuant to
					 G.S.
					 54C-60. Only general reference to the
					 confidential information shall be made in that portion of the application that
					 the applicant requests not to be confidential. The Commissioner of Banks shall
					 review the request of the applicant and determine if the documents are
					 confidential pursuant to
					 G.S.
					 54C-60. Applications under this Subchapter
					 shall be made available for inspection by the public, except for portions that
					 are bound and labeled "confidential" and that the Commissioner of Banks
					 determines to be confidential pursuant to
					 G.S.
					 54C-60. Preliminary copies of
					 proxy-soliciting materials shall be confidential regardless of whether they are
					 bound and labeled as "confidential." The applicant shall be advised of any
					 decision by the Commissioner of Banks to make public information designated as
					 "confidential" by the applicant. Notwithstanding the provisions of this Rule
					 and to the extent permitted by
					 G.S.
					 54C-60, the Commissioner of Banks may comment
					 on the confidential submissions in any public statement in connection with any
					 decision regarding the application without prior notice to the
					 applicant.
Authority
					 G.S.
					 53C-2-7;
					 54C-33;
					 54C-53;
Eff. January
					 15, 1992;
Amended Eff. November 1, 2017;
Pursuant to
					 G.S.
					 150B-21.3A, rule is necessary without
					 substantive public interest Eff. November 22,
					 2018.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0200 - DEFINITIONS › Section 16G .0201-0202

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54B-33;
Eff. January 1,
					 1980;
Transferred With Change From
					 4 NCAC
					 09I Eff. August 31, 1981;
Amended
					 Eff. September 1, 1983; October 1, 1982;
Repealed Eff. January 1,
					 1986.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0300 - GENERAL PRINCIPLES FOR CONVERSIONS › Section 16G .0301-0307

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54B-33;
Eff. January 1,
					 1980;
Transferred With Change From
					 4 NCAC
					 09I Eff. August 31, 1981;
Amended
					 Eff. September 1, 1983; February 1, 1983; October 1, 1982; July 1,
					 1982;
Repealed Eff. January 1,
					 1986.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0300 - GENERAL PRINCIPLES FOR CONVERSIONS › Section 16G .0308 - REPEALED - ACQUISITION OF CONVERTED ASSOCIATION

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54-24;
					 54-24.1;
					 54-33.2;
					 54A-13;
					 150A-12;
Eff.
					 January 1, 1980;
Transferred From
					 4 NCAC
					 09I Eff. August 31, 1981;
Repealed Eff. October 1, 1982.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0300 - GENERAL PRINCIPLES FOR CONVERSIONS › Section 16G .0309 - REPEALED - MERGER OF CONVERTED ASSOCIATIONS

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54B-33;
Eff. December 15,
					 1980;
Amended Eff. January 14, 1981;
Transferred From
					 4 NCAC
					 09I Eff. August 31, 1981;
Amended
					 Eff. September 1, 1983;
Repealed Eff. January 1,
					 1986.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0300 - GENERAL PRINCIPLES FOR CONVERSIONS › Section 16G .0310 - REPEALED - ACQUISITION/SECURITIES: CONVERTING/CONVERTED ASSOCIATION

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54B-33;
Eff. October 1,
					 1982;
Repealed Eff. September 1,
					 1983.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0300 - GENERAL PRINCIPLES FOR CONVERSIONS › Section 16G .0313 - RECORD DATES FOR QUALIFYING DEPOSITS

Current through Register Vol. 39, No. 2, July 15, 2024
The amount of the qualifying deposit of an eligible account
					 holder or supplemental eligible account holder shall be the total of the
					 deposit balances in the eligible account holder's or supplemental eligible
					 account holder's deposit accounts in the converting savings institution as of
					 the close of business on the eligibility record date or supplemental
					 eligibility record date. The plan of conversion may provide that any deposit
					 accounts with total deposit balances of less than fifty dollars ($50.00) shall
					 not constitute a qualifying deposit.
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Amended Eff. November 1, 2017;
Pursuant to
					 G.S.
					 150B-21.3A, rule is necessary without
					 substantive public interest Eff. November 22,
					 2018.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0300 - GENERAL PRINCIPLES FOR CONVERSIONS › Section 16G .0314 - REPEALED - LIQUIDATION ACCOUNT

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Repealed Eff. November 1,
					 2017.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0300 - GENERAL PRINCIPLES FOR CONVERSIONS › Section 16G .0315 - MANIPULATIVE AND DECEPTIVE DEVICES

Current through Register Vol. 39, No. 2, July 15, 2024
In the offer, sale, or purchase of securities issued
					 incident to its conversion, no savings institution, director, executive
					 officer, attorney, agent, or employee shall:
(1) employ any device, scheme, or artifice to
				  defraud;
(2) obtain money or
				  property by means of any untrue statement of a material fact or any omission to
				  state a material fact necessary in order to make the statements made, in the
				  light of the circumstances that they were made, not misleading; or
(3) engage in any act, transaction, practice,
				  or course of business that operates or would operate as a fraud or deceit upon
				  a purchaser or seller.
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Amended Eff. November 1, 2017;
Pursuant to
					 G.S.
					 150B-21.3A, rule is necessary without
					 substantive public interest Eff. November 22,
					 2018.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0300 - GENERAL PRINCIPLES FOR CONVERSIONS › Section 16G .0316 - REPEALED - MERGER OF CONVERTED SAVINGS BANKS

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Repealed Eff. November 1,
					 2017.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0400 - NOTICE OF FILING: PUBLIC STATEMENTS: CONFIDENTIALITY › Section 16G .0401-0403

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54B-33;
Eff. January 1,
					 1980;
Transferred With Change From
					 4 NCAC
					 09I Eff. August 31, 1981;
Amended
					 Eff. October 1, 1982;
Repealed Eff. January 1,
					 1986.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0400 - NOTICE OF FILING: PUBLIC STATEMENTS: CONFIDENTIALITY › Section 16G .0404 - REPEALED - INFORMATION PRIOR TO APPROVAL OF PLAN OF CONVERSION

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Repealed Eff. November 1,
					 2017.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0400 - NOTICE OF FILING: PUBLIC STATEMENTS: CONFIDENTIALITY › Section 16G .0405 - NOTICE OF FILING

Current through Register Vol. 39, No. 2, July 15, 2024
(a) Upon
				  determination that an application for conversion is complete, the Commissioner
				  of Banks shall advise the applicant to publish a notice of the filing of the
				  application. The applicant shall publish the notice in a newspaper having
				  general circulation in the community that the home office of the applicant is
				  located, and the notice shall state the following:
NOTICE OF FILING OF AN APPLICATION FOR CONVERSION
TO A STOCK SAVINGS BANK
Notice is hereby given that, pursuant to
					 General
					 Statute 54C-33,
_________________________________________________________
(fill in name of applicant)
has filed an application with the Office of the
					 Commissioner of Banks for approval to convert to the stock form of
					 organization. Copies of the application have been delivered to the North
					 Carolina Office of the Commissioner of Banks, 316 W. Edenton Street, Raleigh,
					 North Carolina 27603.
Written comments, including objections to the plan of
					 conversion and materials supporting the objections, from any member of the
					 applicant or aggrieved person shall be considered by the Commissioner of Banks
					 if filed within 14 business days after the date of this notice. Comments or
					 objections shall be sent to the Commissioner of Banks at the address noted
					 above. A copy of the plan may be obtained from the applicant.
(b) After publication of the notice
				  prescribed in Paragraph (a) of this Rule, the applicant shall file a copy of
				  the notice with the Commissioner of Banks. The applicant shall also file a copy
				  of an affidavit of publication from each newspaper publisher.
Authority
					 G.S.
					 54B-33;
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Amended Eff. November 1, 2017;
Pursuant to
					 G.S.
					 150B-21.3A, rule is necessary without
					 substantive public interest Eff. November 22,
					 2018.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0500 - SOLICITATION OF PROXIES: PROXY STATEMENT › Section 16G .0501-0508

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54B-33;
Eff. January 1,
					 1980;
Transferred From With Change
					 4 NCAC
					 09I Eff. August 31, 1981;
Amended
					 Eff. September 1, 1983;
Repealed Eff. January 1,
					 1986.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0500 - SOLICITATION OF PROXIES: PROXY STATEMENT › Section 16G .0509 - SOLICITATIONS TO WHICH RULES APPLY

Current through Register Vol. 39, No. 2, July 15, 2024
This Section applies to every solicitation of a proxy from
					 a member of a savings institution for the meeting that a plan of conversion
					 will be voted upon, except the following:
(1) any solicitation made otherwise than on
				  behalf of the management of the savings institution where the total number of
				  persons solicited is not more than 50; or
(2) any solicitation through the medium of a
				  newspaper advertisement that informs members, following approval of the plan of
				  conversion, of a source from which they may obtain copies of a proxy statement,
				  form of proxy, or any other solicitation material and shall contain no more
				  than:
(a) name the savings
				  institution;
(b) state the reason
				  for the advertisement;
(c) identify
				  the proposal or proposals to be acted upon by members; and
(d) urge members to vote at the
				  meeting.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0500 - SOLICITATION OF PROXIES: PROXY STATEMENT › Section 16G .0510 - USE OF PROXY SOLICITING MATERIAL TO BE AUTHORIZED

Current through Register Vol. 39, No. 2, July 15, 2024
Proxy solicitation material shall not be furnished to
					 members or distributed until the material has been authorized, in writing by
					 the Commissioner of Banks. Proxy solicitation material authorized for use by
					 the Commissioner of Banks shall be mailed to the members within 10 days of
					 authorization or within 10 days of the date that the material is declared
					 effective by the Securities and Exchange Commission, if applicable, whichever
					 is later. The Commissioner of Banks may approve in writing to extend the date
					 upon a showing that adherence to the 10-day rule would cause a hardship upon
					 the savings institution and that the delay would not be disadvantageous to any
					 interested party.
Authority
					 G.S.
					 54B-33;
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Amended Eff. November 1, 2017; April 15,
					 1993;
Pursuant to
					 G.S.
					 150B-21.3A, rule is necessary without
					 substantive public interest Eff. November 22,
					 2018.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0500 - SOLICITATION OF PROXIES: PROXY STATEMENT › Section 16G .0511 - INFORMATION TO BE FURNISHED TO MEMBERS

Current through Register Vol. 39, No. 2, July 15, 2024
No solicitation shall be made unless each person solicited
					 is furnished, or has previously been furnished, a written proxy statement that
					 has been authorized by the Commissioner of Banks.
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Amended Eff. November 1, 2017;
Pursuant to
					 G.S.
					 150B-21.3A, rule is necessary without
					 substantive public interest Eff. November 22,
					 2018.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0500 - SOLICITATION OF PROXIES: PROXY STATEMENT › Section 16G .0512 - REQUIREMENTS AS TO PROXY

Current through Register Vol. 39, No. 2, July 15, 2024
(a) The form of
				  proxy shall:
(1) indicate in bold face type
				  whether the proxy is solicited on behalf of management;
(2) provide blank spaces for dating and
				  signing the proxy;
(3) identify
				  each matter or group of related matters intended to be acted upon;
(4) be labeled "Revocable Proxy" in bold face
				  type;
(5) describe any charter or
				  state law restricting or conditioning voting by proxy;
(6) contain an acknowledgement by the person
				  giving the proxy that the person has received a proxy statement prior to
				  signing the form of proxy;
(7)
				  contain the date, time, and place of meeting, if practicable;
(8) provide, by a box or otherwise, a means
				  whereby the person solicited is afforded an opportunity to specify by ballot a
				  choice between approval or disapproval of each matter intended to be acted
				  upon; and
(9) indicate in bold face
				  type how the proxy shall be voted on each matter if no choice is
				  specified.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0500 - SOLICITATION OF PROXIES: PROXY STATEMENT › Section 16G .0513 - MATERIAL REQUIRED TO BE FILED

Current through Register Vol. 39, No. 2, July 15, 2024
(a) An
				  applicant shall file a preliminary copy of the proxy materials to be used by
				  the applicant as a part of the application for conversion filed with the
				  Commissioner of Banks.
(b) A copy
				  of the proxy statement, a copy of the form of proxy, and all other solicitation
				  material in the form that the material is furnished to members shall be filed
				  with or mailed for filing to the Commissioner of Banks not later than the date
				  the material is first sent or given to members. All materials filed pursuant to
				  this Paragraph shall be accompanied by a statement of the date that copies of
				  the materials are to be released to members.
(c) All preliminary copies of material filed
				  pursuant to Paragraph (a) of this Rule shall be marked on the cover page
				  "Preliminary Copy." Preliminary copies shall be for the information of the
				  Commissioner of Banks only.
(d)
				  Unless requested by the Commissioner of Banks, copies of replies to inquiries
				  from members and copies of communications that do no more than request that
				  forms of proxy solicited be signed and returned shall not be filed pursuant to
				  this Rule.
(e) Where any proxy
				  statement, form of proxy, or other material filed pursuant to this Rule is
				  amended or revised, a copy of the amended or revised material filed with the
				  Commissioner of Banks shall be marked to indicate all changes effected
				  subsequent to the previous filing, prior to use of the amended or revised
				  material.
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Amended Eff. November 1, 2017; April 15,
					 1993;
Pursuant to
					 G.S.
					 150B-21.3A, rule is necessary without
					 substantive public interest Eff. November 22,
					 2018.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0500 - SOLICITATION OF PROXIES: PROXY STATEMENT › Section 16G .0514 - REPEALED - MAILING COMMUNICATIONS FOR MEMBERS

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Repealed Eff. November 1,
					 2017.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0500 - SOLICITATION OF PROXIES: PROXY STATEMENT › Section 16G .0515 - FALSE OR MISLEADING STATEMENTS

Current through Register Vol. 39, No. 2, July 15, 2024
(a) Any
				  solicitation of a proxy for the meeting to vote on the plan of conversion by
				  the applicant, its management, or any other person shall not contain written or
				  oral statements, including misleading statements by intentional omission or by
				  misstatement, that when made is false or misleading with respect to any
				  material fact of the conversion.
(b) The fact that a proxy statement, form of
				  proxy, or other solicitation material has been filed with or examined by the
				  Commissioner of Banks and authorized for use shall not be a finding by the
				  Commissioner of Banks that the material is accurate or complete, not false or
				  misleading, or that the Commissioner of Banks has passed upon the merits of or
				  approved any proposal contained therein. No representation to the contrary
				  shall be made by any person.
(c) If
				  a solicitation by management or the applicant violates any provision of this
				  Rule, the Commissioner of Banks may require remedial measures, including:
(1) correction of any such violation by means
				  of a retraction and new solicitation;
(2) rescheduling of the meeting for a vote on
				  the plan of conversion; or
(3) any
				  other actions that are appropriate under the circumstances in order to ensure a
				  fair vote.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0500 - SOLICITATION OF PROXIES: PROXY STATEMENT › Section 16G .0516 - PROHIBITION OF CERTAIN SOLICITATIONS

Current through Register Vol. 39, No. 2, July 15, 2024
No person soliciting a proxy from a member for the meeting
					 to vote on the plan of conversion shall solicit:
(1) any undated or post-dated
				  proxy;
(2) any proxy that provides
				  that it shall be deemed to be dated as of any date subsequent to the date that
				  it is signed by the member;
(3) any
				  proxy that is not revocable at will by the member giving it; or
(4) any proxy that is part of any other
				  document or instrument, such as an account card.
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Amended Eff. November 1, 2017;
Pursuant to
					 G.S.
					 150B-21.3A, rule is necessary without
					 substantive public interest Eff. November 22,
					 2018.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0600 - VOTE BY MEMBERS › Section 16G .0601-0604

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54B-33;
Eff. January 1,
					 1980;
Transferred From
					 4 NCAC
					 09I Eff. August 31, 1981;
Amended
					 Eff. September 1, 1983;
Repealed Eff. January 1,
					 1986.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0600 - VOTE BY MEMBERS › Section 16G .0605 - REPEALED - NOTICE TO ELIGIBLE AND SUPPLEMENTAL ACCOUNT HOLDERS

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54B-33;
Eff. October 1,
					 1982;
Repealed Eff. January 1,
					 1986.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0600 - VOTE BY MEMBERS › Section 16G .0606-.0608

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Repealed Eff. November 1,
					 2017.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0700 - PRICING AND SALE OF SECURITIES › Section 16G .0701-0709

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54B-33;
Eff. January 1,
					 1980;
Transferred With Change From
					 4 NCAC
					 09I Eff. August 31, 1981;
Amended
					 Eff. September 1, 1983; October 1, 1982;
Repealed Eff. January 1,
					 1986.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0700 - PRICING AND SALE OF SECURITIES › Section 16G .0710-0711

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54B-33;
Eff. October 1,
					 1982;
Amended Eff. September 1, 1983;
Repealed Eff.
					 January 1, 1986.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0700 - PRICING AND SALE OF SECURITIES › Section 16G .0712 - GENERAL

Current through Register Vol. 39, No. 2, July 15, 2024
No offer to sell securities of an applicant pursuant to a
					 plan of conversion may be made until the Commissioner of Banks has approved the
					 plan of conversion and authorized the use of the proxy statement. No sale of
					 securities may be made except by means of a final offering circular that meets
					 the requirements of this Section and that has been approved by the Commissioner
					 of Banks. This Rule shall not apply to preliminary negotiations or agreements
					 between an applicant and any underwriter or among underwriters who are to be in
					 privity of contract with the applicant.
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Amended Eff. November 1, 2017;
Pursuant to
					 G.S.
					 150B-21.3A, rule is necessary without
					 substantive public interest Eff. November 22,
					 2018.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0700 - PRICING AND SALE OF SECURITIES › Section 16G .0713 - DISTRIBUTION OF OFFERING MATERIALS

Current through Register Vol. 39, No. 2, July 15, 2024
Any preliminary offering circular that has been filed with
					 the Commissioner of Banks may be distributed in connection with the offering at
					 the same time as or after the proxy statement is mailed to members. No final
					 offering circular shall be distributed until it has been approved by the
					 Commissioner of Banks. The approval of the final offering circular by the
					 Commissioner of Banks shall not extend beyond the maximum time period specified
					 for the completion of the sale of all the capital stock, pursuant to Rule .0720
					 of this Section, or beyond the period of time the Commissioner of Banks shall
					 establish upon a subsequent declaration of effectiveness in the event of the
					 granting of an extension of time pursuant to Rule .0722 of this
					 Section.
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Amended Eff. November 1, 2017;
Pursuant to
					 G.S.
					 150B-21.3A, rule is necessary without
					 substantive public interest Eff. November 22,
					 2018.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0700 - PRICING AND SALE OF SECURITIES › Section 16G .0714 - REPEALED - ESTIMATED PRICE INFORMATION: PROXY STATEMENTS

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Repealed Eff. November 1,
					 2017.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0700 - PRICING AND SALE OF SECURITIES › Section 16G .0715 - PROHIBITED REPRESENTATIONS

Current through Register Vol. 39, No. 2, July 15, 2024
No representations shall be made in any manner that the
					 price information has been approved by the Commissioner of Banks, that the
					 shares of capital stock sold pursuant to the plan of conversion have been
					 approved or disapproved by the Commissioner of Banks, or that the Commissioner
					 of Banks has opined on the accuracy or adequacy of any offering circular
					 covering the shares.
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Amended Eff. November 1, 2017;
Pursuant to
					 G.S.
					 150B-21.3A, rule is necessary without
					 substantive public interest Eff. November 22,
					 2018.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0700 - PRICING AND SALE OF SECURITIES › Section 16G .0716 - REPEALED - UNDERWRITING EXPENSES

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Repealed Eff. November 1,
					 2017.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0700 - PRICING AND SALE OF SECURITIES › Section 16G .0717 - PRICING MATERIALS

Current through Register Vol. 39, No. 2, July 15, 2024
(a) In considering
				  the pricing information, the Commissioner of Banks shall apply the following
				  guidelines:
(1) the materials shall be
				  prepared by persons independent of the applicant who are experienced and expert
				  in the area of corporate appraisal;
(2) the materials shall contain a brief
				  summary of data that is sufficient to support the conclusions reached;
				  and
(3) to the extent that the
				  appraisal is based on the capitalization of the pro forma income of the
				  converted savings bank, the materials shall indicate the basis for
				  determination of the income to be derived from the proceeds of the sale of
				  stock and demonstrate the appropriateness of the earnings multiple used,
				  including assumptions made as to future earnings growth. To the extent that the
				  appraisal is based on a comparison of the capital stock of the applicant with
				  the outstanding capital stock of existing stock savings banks, the existing
				  stock savings banks shall be comparable to the applicant in terms of such
				  factors as size, market area, competitive conditions, profit history, and
				  expected future earnings.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0700 - PRICING AND SALE OF SECURITIES › Section 16G .0719 - REPEALED - WITHDRAWAL FROM CERTIFICATE ACCOUNTS

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Repealed Eff. November 1,
					 2017.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0700 - PRICING AND SALE OF SECURITIES › Section 16G .0720 - PERIOD FOR COMPLETION OF SALE

Current through Register Vol. 39, No. 2, July 15, 2024
The applicant shall complete all sales of stock within 45
					 days after the last day of the subscription period, unless the time period is
					 extended as provided in Rule .0722 of this Section.
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Amended Eff. November 1, 2017;
Pursuant to
					 G.S.
					 150B-21.3A, rule is necessary without
					 substantive public interest Eff. November 22,
					 2018.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0700 - PRICING AND SALE OF SECURITIES › Section 16G .0721 - REPEALED - INTEREST: SUBSCRIPTION/COMMUNITY PURCHASE ORDERS

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Repealed Eff. April 15,
					 1993.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0800 - PROCEDURAL REQUIREMENTS › Section 16G .0801-0821

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54B-33;
Eff. January 1,
					 1980;
Transferred From
					 4 NCAC
					 09I Eff. August 31, 1981;
Amended
					 Eff. September 1, 1983; October 1, 1982;
Repealed Eff. January 1,
					 1986.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0800 - PROCEDURAL REQUIREMENTS › Section 16G .0822 - REPEALED - IMPROPERLY EXECUTED OR MATERIALLY INCOMPLETE FILINGS

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Repealed Eff. November 1,
					 2017.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0800 - PROCEDURAL REQUIREMENTS › Section 16G .0823 - ADDITIONAL FILING REQUIREMENTS

Current through Register Vol. 39, No. 2, July 15, 2024
An applicant whose plan of conversion has been approved by
					 the Commissioner of Banks shall fulfill the following requirements:
(1) After the meeting of members called to
				  consider the plan of conversion, the applicant shall file with the Commissioner
				  of Banks a certified copy of each resolution adopted at the meeting relating to
				  the plan of conversion, together with the following information:
(a) the total number of votes eligible to be
				  cast;
(b) the total number of votes
				  represented in person or by proxy at the meeting;
(c) the total number of votes cast in favor
				  of and against each matter; and
(d)
				  the percentage of votes necessary to approve each matter.
The compilation of the votes cast at the meeting may be
					 prepared by an independent public accountant or by an independent transfer
					 agent.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0800 - PROCEDURAL REQUIREMENTS › Section 16G .0824-.0829

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Repealed Eff. November 1,
					 2017.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0800 - PROCEDURAL REQUIREMENTS › Section 16G .0830-.0833 - REPEALED - CONSENT OF EXPERTS

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Repealed Eff. November 1,
					 2017.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0900 - ACQUISITIONS OF SECURITIES OF CONVERTED ASSOCIATIONS › Section 16G .0901-0905

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54B-33;
Eff. January 1,
					 1980;
Transferred From
					 4 NCAC
					 09I Eff. August 31, 1981;
Amended
					 Eff. December 1, 1984; May 1, 1984; September 1, 1983;
Repealed
					 Eff. January 1, 1986.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0900 - ACQUISITIONS OF SECURITIES OF CONVERTED ASSOCIATIONS › Section 16G .0906-0907

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54B-33;
Eff. September 1,
					 1983;
Amended Eff. December 1, 1984; May 1, 1984;
Repealed Eff. January 1, 1986.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .0900 - ACQUISITIONS OF SECURITIES OF CONVERTED ASSOCIATIONS › Section 16G .0908-.0912 - REPEALED - DEFINITIONS

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54C-33;
					 54C-53;
Eff. February
					 15, 1992;
Repealed Eff. November 1,
					 2017.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .1000 - FORMS › Section 16G .1001-1004

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54B-33;
Eff. January 1,
					 1980;
Transferred From
					 4 NCAC
					 09I Eff. August 31, 1981;
Repealed Eff. September 1, 1983.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .1100 - SALE-OF-CONTROL CONVERSIONS › Section 16G .1101-1108

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54B-33;
Eff. September 1,
					 1983;
Repealed Eff. April 1,
					 1984.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .1200 - CONVERSION: MERGERS: ACQUISITIONS › Section 16G .1201-1202

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54B-33;
					 54B-55;
Eff. February
					 1, 1984;
Repealed Eff. January 1,
					 1986.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter G - MUTUAL TO STOCK CONVERSIONS › Section .1200 - CONVERSION: MERGERS: ACQUISITIONS › Section 16G .1203-.1204 - REPEALED - CONVERSION IN CONNECTION WITH ACQUISITION

Current through Register Vol. 39, No. 2, July 15, 2024
Authority
					 G.S.
					 54C-33;
					 54C-53;
					 54C-195;
Eff.
					 February 15, 1992;
Amended Eff. April 15, 1993;
Repealed Eff. November 1, 2017.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter H - SUPERVISORY ACTIONS › Section 16H .0101 - DEFINITIONS

Current through Register Vol. 39, No. 2, July 15, 2024
As used in this Subchapter, the words and phrases defined by
				  G.S.
				  54C-4 and the following definitions
				  apply:
(1) "Savings institution" shall
				mean all savings institutions converting, merging, or consolidating pursuant to
				G.S.
				54B-44 or
				G.S.
				54C-45 and this Subchapter.
(2) "Consolidation" shall mean a supervisory
				acquisition pursuant to
				G.S.
				54B-44 or
				G.S.
				54C-45 and this Subchapter.
(3) "Merger" shall mean a supervisory merger
				pursuant to
				G.S.
				54B-44 or
				G.S.
				54C-45 and this Subchapter.
(4) "Plan of merger" or "plan of
				consolidation" shall mean a detailed outline of the terms, conditions, and
				procedure of combining one savings institution, by merger or consolidation,
				with another savings institution.
(5) "Short form conversion" shall mean a
				supervisory conversion of a savings institution from mutual to stock form of
				ownership, pursuant to
				G.S.
				54B-44 or
				G.S.
				54C-45 and this Subchapter.
(6) "Combination merger and conversion" shall
				mean a supervisory conversion of a savings institution from mutual to stock
				form of ownership combined with a supervisory merger, pursuant to
				G.S.
				54B-44 or
				G.S.
				54C-45 and this Subchapter.
(7) "Plan of combination merger and
				conversion" shall mean a detailed outline of the terms, conditions, and
				procedures of the short form conversion of a savings institution from mutual to
				stock form of ownership and combining the savings institution, by merger, with
				another savings institution.
Authority
				  G.S.
				  54B-44;
				  54C-45;
Eff. December
				  1, 1981;
Amended Eff. July 1, 1990; October 1, 1982;
Temporary Amendment Eff. October 2, 1991 for a period of 180 days to expire on
				  March 31, 1992;
Amended Eff. November 1, 2017; February 15,
				  1992;
Pursuant to
				  G.S.
				  150B-21.3A, rule is necessary without
				  substantive public interest Eff. November 22,
				  2018.
North Carolina Administrative Code › Title 04 - COMMERCE › Chapter 16 - SAVINGS INSTITUTIONS › Subchapter H - SUPERVISORY ACTIONS › Section 16H .0102 - REPEALED - GROUNDS

Current through Register Vol. 39, No. 2, July 15, 2024
Filed as a Temporary
				  Amendment Eff. October 2, 1991 for a period of 180 days to expire
				  on
March 31, 1992;
Statutory Authority
				  G.S.
				  54B-44;
				  54C-45;
Eff. December
				  1, 1981;
Amended Eff. November 1, 1985; October 1,
				  1982;
Repealed Eff. February 15,
				  1992.