State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-24

§53‑24.  Destruction of records of liquidated insolvent banks.

After the expiration of 10years from the date of filing in the office of the clerk of the superior courtof a final order approving the liquidation by the banking department of anyinsolvent bank and the delivery to the clerk or into his custody of the recordsof such bank, the said records may be destroyed by the clerk of the superiorcourt holding said records by burning the same in the presence of the registerof deeds and the sheriff of said county, who  shall join with the clerk in theexecution of a certificate as to the destruction of said records. Thecertificate shall be filed by the clerk in the court records of the liquidationof the bank whose records are thus destroyed.

After 10 years from the filingby the Commissioner of Banks of a final report of liquidation of any insolventbank, the said Commissioner, by and with the consent of the State BankingCommission or its successor, may destroy by burning the records of anyinsolvent bank held in the Department of the Commissioner of Banks inconnection with the liquidation of such bank: Provided, that in connection withany unpaid dividends the Commissioner of Banks shall preserve the depositledger or other evidence of indebtedness of the bank with reference to theunpaid dividend until the dividend shall have been paid.

Nothing in this section shallbe construed to authorize the destruction by the clerk of the superior court ofany county or by the Commissioner of Banks of any of the formal records ofliquidation, nor shall the Commissioner of Banks have authority under thissection to destroy any of the records made in his office with reference to theliquidation of any insolvent bank. (1939, c. 91, s. 1; c. 135.)