§ 54C-177. Authority to join federal reserve bank.
117 words·~1 min read·
/nc/chapter-54c/54c-177A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 54C-177. Authority to join federal reserve bank.
A State savings bank may subscribe to the capital stock and become a member of a federal reserve bank. A savings bank shall continue to be subject to the supervision and examination required by the laws of this State, except that the Federal Reserve Board shall have the right, if it deems necessary, to make examinations; and the Commissioner of Banks may disclose to the Federal Reserve Board, or to the examiners duly appointed by it, all information in reference to the affairs of a savings bank that has become, or desires to become, a member of a federal reserve bank. (1991, c. 680, s. 1; 2001-193, s. 16.)