State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-212_1

§ 53‑212.1.  Bank agentfor deposit institution affiliate.

A bank may act as the agent ofany depository institution affiliate in receiving deposits, renewing timedeposits, closing loans, servicing loans, and receiving payments on loans andother obligations, without being deemed a branch of such affiliate, inaccordance with Section 101(d) of the Reigle‑Neal Interstate Banking andBranching Efficiency Act of 1994. An affiliate for the purposes of this sectionshall include (i) an affiliate as defined in Section 2(k) of the Bank HoldingCompany Act of 1956, as amended (12 U.S.C. § 1841(k)), and (ii) an affiliate asdefined in Section 23A(b)(1) of the Federal Reserve Act, as amended (12 U.S.C.§ 371c(b)(1)), but without regard to whether the bank or the affiliate is amember of the Federal Reserve System. (1995 (Reg. Sess., 1996), c.557, s. 1; 1997‑241, s. 2.1; 1997‑456, s. 39.)