§ 53-8. Authorized to begin business. - North Carolina Statutes

§53‑8.  Authorized to begin business.

Upon filing of such statement,the Commissioner of Banks shall examine into its affairs, ascertain especiallythe amount of money paid in on account of its capital, the name and place ofresidence of each director, the amount of capital stock of which each is theowner in good faith, and whether such corporation has complied with all theprovisions of law required to entitle it to engage in business. If upon suchexamination it appears to the Commissioner of Banks that it is lawfullyentitled to commence the business of banking, banking and trust, fiduciary, orsurety business, he shall give to such corporation a certificate signed by theCommissioner of Banks, that such corporation has complied with all theprovisions of the law required to be complied with, before commencing thebusiness of banking, and that such corporation is authorized to commencebusiness. (1921, c. 4, s. 8; C.S., s. 217(g); 1931, c. 243, s.5.)