State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-99

§ 53‑99.  Officialrecords.

(a)        The Commissioner ofBanks shall keep a record in his office of his official acts, rulings, andtransactions which, except as hereinafter provided, shall be open toinspection, examination and copying by any person.

(b)        Notwithstanding anylaws to the contrary, the following records of the Commissioner of Banks shallbe confidential and shall not be disclosed or be subject to public inspection:

(1)        Records compiledduring or in connection with an examination, audit or investigation of anybank, banking office, bank holding company or its nonbank subsidiary, or trustdepartment which operates or has applied to operate under the provisions ofthis Chapter;

(2)        Records containinginformation compiled in preparation or anticipation of litigation, examination,audit or investigation;

(3)        Records containingthe names of any borrowers from a bank or revealing the collateral given by anysuch borrower: Provided, however, that every report of insider transactionsmade by a bank which report is required to be filed with the appropriate Stateor federal regulatory agency by either State or federal statute or regulationshall be filed with the Commissioner of Banks in a form prescribed by him andshall be open to inspection, examination and copying by any person;

(4)        Records preparedduring or as a result of an examination, audit or investigation of any bank,bank affiliate, bank holding company or its nonbank subsidiary, data servicecenter or banking practice by an agency of the United States, or jointly bysuch agency and the Commissioner of Banks, if such records would beconfidential under federal law or regulation;

(4a)      Records preparedduring or as a result of an examination, audit or investigation of any bank,bank affiliate, bank holding company or its nonbank subsidiary, data servicecenter or banking practice by a regulatory agency of jurisdiction of the regiondefined in G.S. 53‑210(11) if these records would be confidential underthat jurisdiction's law or regulation;

(5)        Records ofinformation and reports submitted by banks to federal regulatory agencies, ifsuch records would be confidential under federal law or regulation;

(6)        Records ofcomplaints from the public received by the banking department and concerningbanks under its supervision if such complaints would or could result in aninvestigation;

(7)        Records ofexaminations and investigations of consumer finance licensees;

(7a)      Records ofexaminations and investigations of licensees under the Money Transmitters Act, Article 16A of this Chapter;

(7b)      Records ofapplications, examinations, and investigations of applicants, licensees, andexempt persons under the Mortgage Lending Act, Article 19A of this Chapter;

(7c)      Records ofapplications and investigations of registrants under the Refund AnticipationLoan Act, Article 20 of this Chapter;

(8)        Records of pre‑needburial contracts maintained pursuant to Article 13B of Chapter 90 of theGeneral Statutes including investigations of such contracts and related creditinquiries;

(9)        Any letters,reports, memoranda, recordings, charts, or other documents which would discloseany information set forth in any of the confidential records referred to insubdivisions (1) through (8).

(c)        Notwithstanding theprovisions of subsection (b), the Commissioner of Banks may, by writtenagreement with any state or federal regulatory agency, share with that agencyany confidential information set out in subsection (b) on the condition thatthe information shared shall be treated as confidential under the applicablelaws and regulations governing the recipient agency.

(d)        Nothing in thissection of the law shall prohibit a bank, upon approval of the Commissioner ofBanks, from disclosing to an insurance carrier, for the purpose of obtaininginsurance coverage required by Chapter 53 of the General Statutes, the bank'sregulatory rating prepared by the Commissioner's office. Provided however, theinsurance underwriter must agree in writing to maintain the confidentiality ofsuch information and to not disclose the same in any manner whatsoever. (1931, c. 243, s. 10; 1977,2nd Sess., c. 1181, s. 2; 1979, c. 255, s. 1; 1989, c. 9, s. 1; 1989 (Reg.Sess., 1990), c. 881, s. 3; 1995, c. 129, s. 21; 2001‑393, s. 3; 2001‑443,s. 3; 2004‑171, s. 3.)