State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-391

§ 53‑391.  Employment ofcounsel, accountants, and other experts; compensation.

The Commissioner, for thepurpose of exercising any power under the provisions of this Subpart, may (i)employ any liquidating agents, attorneys, accountants, consultants, and clerksnecessary to properly conduct the business of or liquidate and distribute theassets of a State trust company; (ii) fix the compensation for the agents,attorneys, accountants, consultants, and clerks; and (iii) pay the compensationof those persons out of the assets of the State trust company. Provided, thatall expenditures described in this section shall be approved by the resident orpresiding judge in the county in which the action is pending. Payments made bythe Commissioner pursuant to this section shall not be subject to therequirements of Article  3 of Chapter 143 of the General Statutes. As used inthis Subpart, the term "Commissioner" includes the Commissioner'sduly appointed agents. (2001‑263, s. 1.)