State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-35

§53‑35.  Foreclosures and execution of deeds by Commissioner of Banksvalidated.

Whereas, the Commissioner ofBanks, created by Chapter 243 of the Public Laws of 1931, was given generalsupervision over the banks of this State; and

Whereas, the Commissioner ofBanks, under authority of Chapter 385  of the Public Laws of 1931, succeeded toall the property of banks in liquidation, including fiduciary powers under themortgages and deeds of trust; and

Whereas, the Commissioner ofBanks, in his own name and in the name of a number of conservators orliquidating agents of banks in the process of liquidation under hissupervision, has foreclosed a large number of deeds of trust in which suchbanks were the named trustee, and has executed under the powers containedtherein a large number of trustee's deeds under authority thereof: Now,therefore, all the deeds and acts of the Commissioner of Banks and/orconservators or liquidating agents of such banks in the process of liquidation,as in the preamble to this section described, are hereby in all respectsratified, validated and confirmed.

This section shall not affectlitigation pending April 3, 1939. (1939, c. 368.)