State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-224_11

§53‑224.11.  Interstate branching by North Carolina State banks.

(a)        With the priorapproval of the Commissioner, any North Carolina State bank may establish andmaintain a de novo branch or acquire a branch in a state other than NorthCarolina.

(b)        A North CarolinaState bank desiring to establish and maintain a branch in another state underthis section shall file an application on a form prescribed by the Commissionerand pay the branch application fee prescribed by regulation pursuant to G.S. 53‑122.If the Commissioner finds that the applicant has the financial resourcessufficient to undertake the proposed expansion without adversely affecting itssafety or soundness and that the establishment of the proposed branch is in thepublic interest, the Commissioner may approve the application. In acting on theapplication, the Commissioner shall consider the views of the appropriate banksupervisory agencies. The applicant bank may establish the branch when it hasreceived the written approval of the Commissioner. (1995, c. 322, s. 2.)