§ 54B-55. Power of Commissioner of Banks to promulgate rules and regulations; reproduction of records. - North Carolina Statutes

§ 54B‑55.  Power ofCommissioner of Banks to promulgate rules and regulations; reproduction ofrecords.

(a)        The Commissioner ofBanks shall have the right, and is empowered, to promulgate rules, instructionsand regulations as may be necessary to the discharge of his duties and powersas to savings and loan associations for the supervision and regulation of saidassociations, and for the protection of the public investing in said savingsand loan associations.

(b)        Without limitingthe generality of the foregoing paragraph, rules, instructions, and regulationsmay be promulgated with respect to:

(1)        Reserverequirements;

(2)        Stock ownership anddividends;

(3)        Stock transfers;

(4)        Incorporators,stockholders, directors, officers and employees of an association;

(5)        Bylaws;

(6)        Repealed by SessionLaws 2001‑193, s. 3.

(7)        The structure of theoffice of the Commissioner of Banks;

(8)        The operation ofassociations;

(9)        Withdrawableaccounts, bonus plans, and contracts for savings programs;

(10)      Loans and loan expenses;

(11)      Investments;

(12)      Forms anddefinitions;

(13)      Types of financialrecords to be maintained by associations;

(14)      Retention periods ofvarious financial records;

(15)      Internal controlprocedures of associations;

(16)      Conduct andmanagement of associations;

(17)      Chartering andbranching;

(18)      Liquidations;

(19)      Mergers;

(20)      Conversions;

(21)      Reports which may berequired by the Commissioner of Banks;

(22)      Conflicts ofinterest;

(23)      Collection of Statesavings and loan taxes;

(24)      Service corporations;and

(25)      Savings and loanholding companies.

(c)        Repealed by SessionLaws 1983, c. 144, s. 14.

(d)        Any association maycause any or all records by it to be recorded, copied or reproduced by anyphotographic, photostatic or miniature photographic process which correctly,accurately, permanently copies, reproduces or forms a medium for copying orreproducing the original record on a film or other durable material.

(e)        Any suchphotographic, photostatic or miniature photographic copy or reproduction shallbe deemed to be an original record in all courts and administrative agenciesfor the purpose of its admissibility in evidence. A facsimile, exemplificationor certified copy of any such photographic copy or reproduction shall, for allpurposes, be deemed a facsimile, exemplification or certified copy of theoriginal record.

(f)         The provisions ofthis section with reference to the retention and disposition of records shallapply to any federal savings and loan association operating in North Carolinaunless in conflict with regulations prescribed by its supervisory authority. (1981, c. 282, s. 3; 1983, c.144, s. 14; 1989, c. 76, s. 19; 2001‑193, ss. 3, 16.)