State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-224_14

§53‑224.14.  Requirement of notice and other conditions.

(a)        An out‑of‑statebank desiring to establish and maintain a de novo branch or to acquire a branchin this State shall provide written notice of the proposed transaction to theCommissioner not later than the date on which the bank applies to theresponsible federal bank supervisory agency for approval to establish oracquire the branch. The filing of such notice shall be accompanied by thefiling fee prescribed by the Commissioner by regulation.

(b)        The out‑of‑statebank shall comply with the applicable requirements of Article 15 of Chapter 55of the North Carolina General Statutes.

(c)        An out‑of‑statebank may establish and maintain a de novo branch or may establish and maintaina branch through acquisition of a branch if:

(1)        In the case of a denovo branch, the laws of the home state of the out‑of‑state bankpermit North Carolina banks to establish and maintain de novo branches in thatstate under substantially the same terms and conditions as herein set forth;and

(2)        In the case of abranch established through the acquisition of a branch, the laws of the homestate of the out‑of‑state bank permit North Carolina banks toestablish and maintain branches in that state through the acquisition of branchesunder substantially the same terms and conditions as herein set forth. (1995,c. 322, s. 2; 1997‑54, s. 1; 1999‑72, s. 3.)