State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-224_9


Interstate BranchBanking.

Part 1.  Definitions.

§ 53‑224.9. Definitions.

The following definitionsapply in this Article:

(1)        "Acquisition ofa branch" means the acquisition of a branch located in a host statewithout engaging in an "interstate merger transaction" as defined inPart 2 of this Article.

(2)        "Bank" hasthe meaning set forth in 12 U.S.C. § 1813(h); provided that the term"bank" shall not include any "foreign bank" as defined in12 U.S.C. § 3101(7), except that such term shall include any foreign bankorganized under the laws of a territory of the United States, Puerto Rico,Guam, American Samoa, or the Virgin Islands, the deposits of which are insuredby the Federal Deposit Insurance Corporation.

(3)        "Bank holdingcompany" has the meaning set forth in 12 U.S.C. § 1841(a)(1).

(4)        "Banksupervisory agency" means:

a.         The Office of theComptroller of the Currency, the Federal Deposit Insurance Corporation, theBoard of Governors of the Federal Reserve System, and any successor to theseagencies; and

b.         Any agency ofanother state with primary responsibility for chartering and supervising banks.

(5)        "Branch"means a full service office of a bank through which it receives deposits,checks are paid, or loans are made, other than its principal office. Any of thefunctions or services authorized to be engaged in by a bank may be carried outin an authorized branch office.

(6)        "Commissioner"means the Commissioner of Banks for the State of North Carolina.

(7)        "Control"has the meaning set forth in 12 U.S.C. § 1841(a)(2).

(8)        "De novobranch" means a branch of a bank located in a host state which (i) isoriginally established by the bank as a branch and (ii) does not become abranch of the bank as a result of (A) the acquisition of another bank or abranch of another bank, or (B) the merger, consolidation, or conversioninvolving any such bank or branch.

(9)        "Homestate" means:

a.         With respect to anational bank, the state in which the main office of the bank is located;

b.         With respect to astate bank, the state by which the bank is chartered;

c.         With respect to aforeign bank, the state determined to be the home state of such foreign bankunder 12 U.S.C. § 103(c).

(10)      "Hoststate" means a state, other than the home state of a bank, in which thebank maintains, or seeks to establish and maintain a branch.

(11)      "Interstatemerger transaction" means:

a.         The merger orconsolidation of banks with different home states, and the conversion ofbranches of any bank involved in the merger or consolidation into branches ofthe resulting bank; or

b.         The purchase of allor substantially all of the assets, including all or substantially all of thebranches, of a bank whose home state is different from the home state of theacquiring bank.

(12)      "North Carolina bank"means a bank whose home state is North Carolina.

(13)      "North CarolinaState bank" means a bank chartered under the laws of North Carolina.

(14)      "Out‑of‑statebank" means a bank whose home state is a state other than North Carolina.

(15)      "Out‑of‑statestate bank" means a bank chartered under the laws of any state other thanNorth Carolina.

(16)      "Resultingbank" means a bank that has resulted from an interstate merger transactionunder this Article.

(17)      "State"means any state of the United States, the District of Columbia, any territoryof the United States, Puerto Rico, Guam, American Samoa, the Trust Territory ofthe Pacific Islands, the Virgin Islands, and the Northern Mariana Islands. (1995,c. 322, s. 2.)