State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-333

§ 53‑333.  Applicationfor State trust company charter and permission to incorporate State trustcompany.

(a)        An application fora State trust company charter and permission to incorporate the State trustcompany shall be made to the Commissioner in the form required by theCommissioner and shall be supported by information, data, and records that theCommissioner requires. The application shall be accompanied by the fee set bythe Commissioner by rule.

(b)        Upon receipt of theapplication, the Commissioner shall at once conduct an examination of allrelevant facts connected with the formation of the proposed State trustcompany. The Commissioner may consider the following factors:

(1)        The proposed marketor markets to be served;

(2)        Whether the proposedorganizational and capital structure and the amount of initial capital appearadequate in relation to the proposed business and market or markets;

(3)        Whether theanticipated volume and nature of business indicate a reasonable probability ofsuccess and profitability based on the market or markets proposed to be served;

(4)        Whether the proposedofficers and directors, as a group, have sufficient experience, ability,standing, competence, trustworthiness, and integrity to justify a belief thatthe proposed State trust company will be free from improper or unlawfulinfluence and otherwise will operate in compliance with law, and that successof the proposed State trust company is reasonably probable; and

(5)        Whether the proposedname of the proposed State trust company is likely to mislead the public as toits character or purpose or is the same as a name already adopted by anexisting bank, savings association, or trust institution in this State, or sosimilar thereto as to be likely to mislead the public.

(c)        The failure of anapplicant to furnish required information, data, other material, or therequired fee within 30 days after a request may be considered an abandonment ofthe application. (2001‑263,s. 1.)