State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-343

§ 53‑343.  Prohibiteddistributions, acquisitions, liens, or pledges.

A State trust company shallnot make any distribution to its shareholders, acquire its own shares, acquirea lien upon its own shares, or pledge its own assets while an order of the Commissionerprohibiting such distributions, acquisitions, liens, or pledges is in effect. (2001‑263, s. 1.)