Upon a finding that any actionof an international banking corporation or its international banking agency,international banking branch, or international representative office subject tothis Article may be in violation of any North Carolina banking law, theCommissioner, after a reasonable notice to the international bankingcorporation, international bank agency, international bank branch, orinternational representative office and an opportunity for it to be heard, may orderit to cease and desist from the action. If the international bankingcorporation, international bank agency, international bank branch, orinternational representative office fails to appeal the decision in accordancewith G.S. 53‑232.17 and continues to engage in the action in violation ofthe Commissioner's order to cease and desist the action, it is subject to apenalty of one thousand dollars ($1,000), to be recovered with costs by theCommissioner in any court of competent jurisdiction in a civil actionprosecuted by the Commissioner. This penalty is in addition to and not in lieuof any other law applicable to the failure of an international bankingcorporation, international bank agency, international bank branch, orinternational representative office to comply with an order of theCommissioner.
The clear proceeds ofpenalties provided for in this section shall be remitted to the Civil Penaltyand Forfeiture Fund in accordance with G.S. 115C‑457.2. (1991,c. 679, s. 1; 1998‑215, s. 33.)
Upon a finding that any actionof an international banking corporation or its international banking agency,international banking branch, or international representative office subject tothis Article may be in violation of any North Carolina banking law, theCommissioner, after a reasonable notice to the international bankingcorporation, international bank agency, international bank branch, orinternational representative office and an opportunity for it to be heard, may orderit to cease and desist from the action. If the international bankingcorporation, international bank agency, international bank branch, orinternational representative office fails to appeal the decision in accordancewith G.S. 53‑232.17 and continues to engage in the action in violation ofthe Commissioner's order to cease and desist the action, it is subject to apenalty of one thousand dollars ($1,000), to be recovered with costs by theCommissioner in any court of competent jurisdiction in a civil actionprosecuted by the Commissioner. This penalty is in addition to and not in lieuof any other law applicable to the failure of an international bankingcorporation, international bank agency, international bank branch, orinternational representative office to comply with an order of theCommissioner.
The clear proceeds ofpenalties provided for in this section shall be remitted to the Civil Penaltyand Forfeiture Fund in accordance with G.S. 115C‑457.2. (1991,c. 679, s. 1; 1998‑215, s. 33.)
Upon a finding that any actionof an international banking corporation or its international banking agency,international banking branch, or international representative office subject tothis Article may be in violation of any North Carolina banking law, theCommissioner, after a reasonable notice to the international bankingcorporation, international bank agency, international bank branch, orinternational representative office and an opportunity for it to be heard, may orderit to cease and desist from the action. If the international bankingcorporation, international bank agency, international bank branch, orinternational representative office fails to appeal the decision in accordancewith G.S. 53‑232.17 and continues to engage in the action in violation ofthe Commissioner's order to cease and desist the action, it is subject to apenalty of one thousand dollars ($1,000), to be recovered with costs by theCommissioner in any court of competent jurisdiction in a civil actionprosecuted by the Commissioner. This penalty is in addition to and not in lieuof any other law applicable to the failure of an international bankingcorporation, international bank agency, international bank branch, orinternational representative office to comply with an order of theCommissioner.
The clear proceeds ofpenalties provided for in this section shall be remitted to the Civil Penaltyand Forfeiture Fund in accordance with G.S. 115C‑457.2. (1991,c. 679, s. 1; 1998‑215, s. 33.)
