§ 54B-2. Purpose. - North Carolina Statutes

§54B‑2.  Purpose.

The purpose of this Chapteris:

(1)        To provide for thesafe and sound conduct of the business of savings and loan associations, theconservation of their assets and the maintenance of public confidence insavings and loan associations;

(2)        To provide for theprotection of the interests of customers and members, and the public interestin the soundness of the savings and loan industry;

(3)        To provide theopportunity for savings and loan associations  to remain competitive with eachother and with other savings and financial institutions existing under otherlaws of this and other states and the United States;

(4)        To provide theopportunity for savings and loan associations  to serve effectively theconvenience and advantage of customers and members, and to improve and expandtheir services and facilities for such purposes;

(5)        To provide theopportunity for the management of savings and  loan associations to exerciseprudent business judgment in conducting the affairs of savings and loan associationsto the extent compatible with the purposes recited in this section; and

(6)        To provide adequaterulemaking power and administrative discretion so that the regulation andsupervision of savings and loan associations are readily responsive to changesin economic conditions and in savings and loan practices. (1981,c. 282, s. 3.)