State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-39

Article5.

Stockholders.

§ 53‑39.  New Statebanks to set up surplus fund.

The common stockholders of anybank organized after March 17, 1933, under the laws of the State of NorthCarolina shall pay in, in cash, a surplus fund equal to fifty per centum (50%)of its common capital stock before the bank shall be authorized to commencebusiness. (1933, c. 159, s. 2; 1935, c. 79, s. 1.)