State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-75

§53‑75.  Statement of account from bank to depositor deemed finaladjustment if not objected to within five years; statements of account to berendered annually or on request.

When a statement of accounthas been rendered by a bank to a depositor accompanied by vouchers, if any,which are the basis for debit entries in such account, or the depositor'spassbook has been written up by the bank showing the condition of thedepositor's account and delivered to such depositor with like accompaniment ofvouchers, if any, such account shall, after the period of five years from thedate of its rendition in the event no objection thereto has been theretoforemade by the depositor, be deemed finally adjusted and settled and itscorrectness conclusively presumed and such depositor shall thereafter be barredfrom questioning the incorrectness of such account for any cause. Every bankoperating under this Chapter shall render a statement of account for eachdeposit account, including NOW or similar accounts, at least annually to thelast known address of the depositor; provided, however, such statements are notrequired for time deposits, or for savings deposits evidenced by passbooks.Every bank operating under this Chapter shall render a statement of account foreach deposit account, including demand, time, savings, NOW, and other similaraccounts upon receipt of an appropriate request reasonably made by a depositor.(1929, c. 188, s. 1; 1981, c. 671, s. 11.)