§ 53-112. Appraisal of assets of doubtful value. - North Carolina Statutes

§53‑112.  Appraisal of assets of doubtful value.

If any assets of a bank are ofa doubtful or disputed value, an appraisal of such assets may be had by theCommissioner of Banks, and for the purpose of making such appraisal theCommissioner of Banks shall designate one agent as an appraiser and the bankshall designate an agent as an appraiser and the two so chosen shall designatea third. The appraisers so selected shall make an appraisal of the assets sodesignated as doubtful or disputed and file a written report of their appraisalwith the bank and with the Commissioner of Banks. In making such appraisal theappraisers shall determine the actual cash market value of such assets. Suchappraisal, when made, shall be accepted as the value of such assets for thepurpose of examination or for the purpose of determining the actual cash marketvalue of such assets. The appraisers designated shall not be interested, in anyway, either in the bank or as an employee of the Commissioner of Banks and allexpenses of such appraisal shall be paid by the bank whose assets areappraised. If any bank required to appoint an appraiser hereunder shall failfor 10 days to appoint an appraiser, the Commissioner of Banks may apply to theclerk of the superior court of the county in which the bank is located for theappointment of such an appraiser, and the clerk shall thereupon make theappointment for the bank. (1927, c. 47, s. 13; 1931, c. 243, s. 5.)