State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-104_1

§53‑104.1.  Examination of nonbanking affiliates.

The Commissioner of Banks, athis discretion, may examine the affiliates of a bank doing business under thisChapter to the extent it is necessary to safeguard the interest of depositorsand creditors of the bank and of the general public, and to enforce theprovisions of this Chapter. The Commissioner may conduct the examination inconjunction with any examination of the bank or affiliate conducted by anyother state or federal regulatory authority. For the purpose of this section,the word "affiliate" means any bank holding company of which the bankis a subsidiary and any nonbanking subsidiary of that bank holding company, as"subsidiary" is defined by Section 2 of the Federal Bank HoldingCompany Act of 1956 (12 U.S.C. Sec. 1841(d), as amended). (1979,c. 483, s. 11.)