State Codes and Statutes
Statutes > North-carolina > Chapter_53 > GS_53-153§53‑153. Segregation of recent deposits not effective after bank turnedback to officers; notice of turning bank back to officers.
After 15 days after theaffairs of a bank shall have been turned back to its board of directors by theconservator, either with or without a reorganization as provided in G.S. 53‑152hereof, the provisions of G.S. 53‑151 with respect to the segregation ofdeposits received while it is in the hands of the conservator, and with respectto the use of such deposits to liquidate the indebtedness of such bank, shallno longer be effective: Provided, that before the conservator shall turn backthe affairs of the bank to its board of directors, he shall cause to bepublished in a newspaper published in the county in which such bank is located,and if no newspaper is published in such county, in a newspaper having ageneral circulation in such county, a notice in form approved by theCommissioner of Banks, stating the date on which the affairs of the bank willbe returned to its board of directors, and that the said provisions of G.S. 53‑151will not be effective after 15 days after such date; and on the date ofpublication of such notice, the conservator shall immediately send to everyperson who is a depositor in such bank under G.S. 53‑151, a copy of suchnotice by registered mail, addressing it to the last known address of suchpersons shown by the records of the bank; and the conservator shall sendsimilar notice in like manner to every person making deposit in such bank underG.S. 53‑151, after the date of such newspaper publication and before thetime when the affairs of the bank are returned to its directors. (1933,c. 155, s. 6; 1995, c. 129, s. 28.)
