State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-156

§53‑156.  Term "stock" to include preferred stock.

Whenever in existing bankinglaw, the words "stock," "stockholders,""capital," or "capital stock" are used, the same shall bedeemed to include preferred stock: Provided, that no bank issuing preferred stockunder the provisions hereof, shall be permitted at any time to make loanssecured by such preferred stock; provided further that such words shall not bedeemed to include preferred stock where they are used in G.S. 53‑2, 53‑10,53‑80, 53‑87, 53‑88 and 53‑139. (1933,c. 155, s. 9; 1935, c. 80; 1953, c. 675, s. 5; 1979, c. 483, s. 18.)