State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-158

§53‑158.  Naming of conservator not liquidation.

No power conferred in thisArticle upon the Commissioner of Banks, when exercised, shall be deemed an actof possession for the purposes of liquidation; and whenever the Commissioner ofBanks shall, with reference to any bank for which a conservator is appointed,deem that liquidation is necessary, he shall exercise the powers for thepurposes of liquidation as provided in G.S. 53‑20 as amended. (1933,c. 155, s. 11.)