§ 53-224.15. Conditions for approval. - North Carolina Statutes

§53‑224.15.  Conditions for approval.

In the case of notice underG.S. 53‑224.14 by an out‑of‑state state bank, the noticeshall be subject to approval by the Commissioner, which approval shall beeffective only if:

(1)        The bank confirms inwriting to the Commissioner that as long as it maintains a branch in NorthCarolina, it will comply with all applicable laws of this State.

(2)        The Commissioner,acting within 60 days after receiving notice of an application under G.S. 53‑224.14,certifies to the responsible federal bank supervisory agency that therequirements of this Part have been met by the bank. (1995,c. 322, s. 2.)