§ 53-140. Sales of capital stock; accounting; fees. - North Carolina Statutes

§53‑140.  Sales of capital stock; accounting; fees.

The capital stock sold by anyindustrial bank in process of organization, or for an increase of the capitalstock, shall be accounted for to the bank in the full amount paid for the same.No commission or fee shall be paid to any person, association, or corporationfor selling such stock. The Commissioner of Banks shall refuse authority tocommence business to any industrial bank where commissions or fees have beenpaid, or have been contracted to be paid by it, or by anyone in its behalf toany person, association, or corporation for securing subscriptions for orselling stock in such bank. (1923, c. 225, s. 5; C.S., s.225(e); 1931, c. 243, s. 5.)