§ 53-144. Supervision and examination. - North Carolina Statutes

§53‑144.  Supervision and examination.

Every industrial bank now orhereafter transacting the business of an industrial bank as defined by thisArticle, whether as a separate business or in connection with any otherbusiness under the laws of and within this State, shall be subject to theprovisions of this Article, and shall be under the supervision of theCommissioner of Banks. The Commissioner of Banks shall exercise control of andsupervision over the industrial banks doing business under this Article, and itshall be his duty to execute and enforce, through the  State bank examiners andsuch other agents as are now or may hereafter be created or appointed, all lawswhich are now or may hereafter be enacted relating to industrial banks asdefined in this Article. For the more complete and thorough enforcement of theprovisions of this Article, the State Banking Commission is hereby empowered topromulgate such rules, regulations, and instructions, not inconsistent with theprovisions of this Article, as may, in its opinion, be necessary to carry outthe provisions of the laws relating to industrial banks as in this Articledefined, and as may be further necessary to insure such safe and conservativemanagement of industrial banks under the supervision of the Commissioner ofBanks as may provide adequate protection for the interest of creditors,stockholders, and the public, in their relations with such institutions. Allindustrial banks doing business under the provisions of this Article shallconduct their business in a manner consistent with all laws relating toindustrial banks, and all rules, regulations and instructions that may bepromulgated or issued by the State Banking Commission. (1923,c. 225, s. 11; C.S., s. 225(k); 1931, c. 243, s. 5; 1939, c. 91, s. 2.)