§ 53-160. License to do business. - North Carolina Statutes

§ 53‑160.  License to dobusiness.

Before any such bank or trustcompany is authorized to act in any fiduciary capacity without bond, it must belicensed by the Commissioner of Banks of the State. For such license thelicensee, for the purpose of defraying necessary expenses of the Commissionerof Banks and the Commissioner's agents in supervising and examining thelicensee, shall pay to the Commissioner of Banks an annual license fee not toexceed five hundred dollars ($500.00) as required by rule of the State BankingCommission. A national bank which has been granted trust powers by theComptroller of the Currency or his duly authorized agent shall be annuallylicensed as required in this section and shall be granted a certificate ofsolvency which will meet the provisions of G.S. 53‑162 withoutexamination by the Commissioner of Banks as required in G.S. 53‑161. (1945, c. 743, s. 1; 1967, c.789, s. 20; 2001‑263, s. 3; 2004‑171, s. 5.)