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Code · North Carolina · Chapter 53 — Regulation of Financial Services

§ 53-224.15. Conditions for approval.

106 words·~1 min read·/nc/chapter-53/53-224-15

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§ 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.)
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