State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-116

§53‑116.  Commissioner need not take over banks failing to meet depositdemands.

The Commissioner of Banks isauthorized and directed not to take possession of any banking corporation underhis supervision for failure to meet its deposit liabilities during the periodin which such banking corporation is operating under the terms of G.S. 53‑114,subdivision (1); and he is hereby relieved from any and all liability forpermitting such banking corporations to continue operations under the termsthereof. (1933, c. 120, s. 5.)