State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-91_1

§53‑91.1.  Assets to be written off.

Every bank doing businessunder this Chapter shall be required to write off any asset, or portionthereof, which, following the most recent report of examination issued by theCommissioner of Banks, is classified as uncollectible.  Provided, however, suchasset need not be written off if the same is secured by collateral acceptableto the Commissioner. (1991, c. 677, s. 5.)