State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-46

§53‑46.  Limitations on investments in securities.

The investment in any bonds orother debt obligations of any one firm, individual, or corporation, unless itbe the obligations of the United States, or agency thereof, or otherobligations guaranteed by the United States Government, State of NorthCarolina, or other state of the United States, or other political subdivisionof the State of North Carolina, or other state of the United States in whichthe bank maintains a branch, shall at no time exceed fifty thousand dollars($50,000) plus ten percent (10%) of all amounts in excess of two hundred fiftythousand dollars ($250,000) of the bank's unimpaired capital fund. (1921,c. 4, s. 27; C.S., s. 220(b); 1927, c. 47, s. 6; 1931, c. 243, s. 5; 1933, c.359; 1935, c. 199; 1937, c. 186; 1967, c. 789, s. 8; 1979, c. 483, s. 5; 1995,c. 129, s. 10.)