State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-348

§ 53‑348.  Applicationregarding acquisition of control.

(a)        A person seekingapproval to acquire control of a State trust company shall file with theCommissioner:

(1)        An application inthe form required by the Commissioner;

(2)        Any filing feerequired by rule; and

(3)        All informationrequired by rule or that the Commissioner requires in connection with aparticular application in order to make an informed decision to approve orreject the proposed acquisition of control.

(b)        If any group ofindividuals or entities acting in concert seek approval to acquire control, theinformation the Commissioner may require under the provisions of this Subpartmay be required of each member of the group.

(c)        Notwithstanding anylaws to the contrary, information bearing on the character or information aboutthe personal finances of an existing or proposed shareholder of a State trustcompany or other individual is confidential and not subject to publicdisclosure.

(d)        If a person seekingapproval to acquire control is not a North Carolina resident, a North Carolinacorporation, or an out‑of‑state corporation qualified to dobusiness in this State, the Commissioner may require the person to appoint aresident agent for service of process. (2001‑263, s. 1.)