§ 54B-45. Interim associations. - North Carolina Statutes

§ 54B‑45.  Interimassociations.

(a)        Article 2 of thisChapter shall not apply to applications for permission to organize an interimState association so long as the application is approved by the Commissioner ofBanks.

(b)        Preliminaryapproval of an application for permission to organize an interim Stateassociation shall be conditional upon the Commissioner of Banks' approval of anapplication to merge the interim association and an existing stock associationor on the Commissioner of Banks' approval of any other transaction.

(c)        The Commissioner ofBanks shall promulgate rules and regulations to govern the formation of interimassociations authorized by this section. (1985, c. 659, s. 9(b); 2001‑193, s. 16.)