§ 54B-23. Application to change location of a branch or principal office. - North Carolina Statutes

§ 54B‑23.  Applicationto change location of a branch or principal office.

(a)        The board ofdirectors of a State association may change the location of a branch office orthe principal office of the association by submitting to the Commissioner ofBanks an application for such change on forms prescribed by the Commissioner ofBanks.

(b)        Upon receipt of anapplication accompanied by the proper application fee, the Commissioner ofBanks shall conduct, or cause to be conducted, an examination and investigationof the facts and circumstances connected with the consideration of theapplication. After such examination and investigation, the Commissioner ofBanks shall approve or deny the application.

(c)        If an applicationfiled under this section is approved by the Commissioner of Banks and theassociation fails to change the location of such branch office or principaloffice within six months after the date of the order approving suchapplication, such approval shall be revoked. Such a six‑month period maybe extended upon a showing to the satisfaction of the Commissioner of Banks ofgood cause. (1981,c. 282, s. 3; 1983, c. 144, s. 11; 2001‑193, s. 16.)