State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-232_13

§53‑232.13.  Dissolution.

(a)        When aninternational banking corporation licensed to maintain an international bankbranch or an international bank agency in this State is dissolved or itsauthority or existence is otherwise terminated or canceled in the jurisdictionof its incorporation, a certificate of the official responsible for records ofbanking corporations of the jurisdiction of incorporation of the internationalbanking corporation attesting to the occurrence of this event or a certifiedcopy of an order or decree of a court of the jurisdiction directing thedissolution of the international banking corporation or the termination of itsexistence or the cancellation of its authority shall be delivered to theCommissioner.  The filing of the certificate, order, or decree has the sameeffect as the revocation of the international banking corporation's license asprovided in G.S. 53‑232.9(d).

(b)        An internationalbanking corporation that proposes to terminate the operation in this State ofan international bank branch, an international bank agency, or an internationalrepresentative office in this State shall comply with any procedures as theCommissioner may prescribe by rule to insure an orderly cessation of businessin a manner that is not harmful to the public interest and shall surrender itslicense to the Commissioner or shall surrender its right to maintain an officein this State, as applicable.

(c)        The Commissionershall continue as agent of the international banking corporation upon whomprocess against it may be served in any action based upon any liability orobligation incurred by the international banking corporation within this Statebefore the filing of the certificate, order, or decree; and the Commissionershall promptly cause a copy of the process to be mailed by registered orcertified mail, return receipt requested, to the international bankingcorporation at the post office address specified for this purpose on file withthe Commissioner's office. (1991, c. 679, s. 1.)