State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-133

§53‑133.  Advertising larger amount than that paid in capital stock.

It shall be unlawful for anybank to advertise in a newspaper, letterhead, or any other way, a largercapital stock than has been actually paid in in cash. Any bank violating thissection shall be subject to a penalty of five hundred dollars ($500.00) foreach and every offense. The penalty herein provided for shall be recovered bythe State in a civil action in any court of competent jurisdiction, and itshall be the duty of the Attorney General to prosecute all such actions.

The clear proceeds ofpenalties provided for in this section shall be remitted to the Civil Penaltyand Forfeiture Fund in accordance with G.S. 115C‑457.2. (1921,c. 4, s. 86; C.S., s. 224(h); 1998‑215, s. 31.)