§ 53-382. Remedy for seizure; answer to notice; injunction; appeal; and motions. - North Carolina Statutes

§ 53‑382.  Remedy forseizure; answer to notice; injunction; appeal; and motions.

(a)        Whenever any Statetrust company of which the Commissioner has taken possession under G.S. 53‑377shall deem itself aggrieved thereby, it may file an answer to the notice as inother civil actions and may also, upon notice to the Commissioner, apply to theresident or presiding judge of the superior court for an injunction to enjoinfurther proceedings by the Commissioner. The judge of the superior court maycite the Commissioner to show cause why further proceedings should not beenjoined and, after hearing the allegations and proof of the parties withrespect to the condition of the State trust company, may dismiss an applicationfor injunction or may enjoin further proceedings under the provisions of thissection by the Commissioner. If the judge enjoins further action of theCommissioner and permits the reopening of the State trust company, the judgemay require of the State trust company a surety bond as the judge deemsnecessary, payable to the Commissioner for the sole benefit of the creditorsand clients of the State trust company and upon any terms the judge deemsproper. Either party has the right to appeal a decision as in other civilactions.

(b)        The State trust companyor any person interested may be heard by motion as to actions taken or proposedto be taken by the Commissioner, but the judge hearing the motion shall enteran order as in the judge's discretion will best serve the parties interested. (2001‑263, s. 1.)