State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-118

§53‑118.  Duties and powers.

It shall be the duty of theexaminers to verify all reports made to the Commissioner of Banks by theofficers and directors, members, or individuals conducting any bankinginstitution, as required by this Chapter or by the Commissioner of Banks. Theofficers of every bank shall submit and surrender its books, assets, papers,and concerns to the examiners appointed under this Chapter, who shall retainthe custody and possession of such books, assets, papers, and concerns for suchlength of time as may be required for the purpose of making an examination asrequired by this Chapter. If any officer shall refuse to surrender the books,assets, papers, and concerns as herein provided, or shall refuse to be examinedunder oath touching the affairs of such bank, the Commissioner of Banks mayforthwith take possession of the property and business of the bank andliquidate its affairs in accordance with the provisions of this Chapter. (1921,c. 4, s. 73; C.S., s. 223(b); 1931, c. 243, s. 5.)