§ 54C-131. Investment in banking premises. - North Carolina Statutes

§ 54C‑131.  Investmentin banking premises.

A savings bank may invest inreal property and equipment and in leasehold improvements to rented facilitiesnecessary for the conduct of its business and in real property to be held forits future use. A savings bank may invest in office buildings and appurtenancesfor the purpose of the transaction of the savings bank's business. Thisinvestment may not be made without the prior written approval of theCommissioner of Banks if the total amount of these investments exceeds fiftypercent (50%) of the savings bank's net worth. Facilities, furniture, andfixtures leased for the purpose set forth in this section are not included inthis limitation. (1991,c. 680, s. 1; 2001‑193, s. 16.)