§ 53-136. Industrial bank defined. - North Carolina Statutes

Article11.

Industrial Banks.

§ 53‑136.  Industrialbank defined.

The term "industrialbank," as used in this Article shall be construed to mean any corporationorganized or authorized under this Article which is engaged in receiving,soliciting or accepting money or its equivalent on deposit and in lending moneyto be repaid in weekly, monthly, or other periodical installments or principalsums as a business: Provided, however, this definition shall not be construedto include building and loan associations, commercial banks, or credit unions. (1923,c. 225, s. 1; C.S., s. 225(a); 1945, c. 743, s. 1.)