§ 54C-142. Suspension of investment and loan limitation. - North Carolina Statutes

§ 54C‑142.  Suspensionof investment and loan limitation.

The board of directors of anysavings bank may, by resolution duly passed at a meeting of the board, requestthe Commissioner of Banks to suspend temporarily the limitations on loans andinvestments as they may apply to any particular loan or investment in excess ofthe limitations of G.S. 54C‑130 and G.S. 54C‑141 that the savingsbank desires to make. Upon receipt of a duly certified copy of the resolution,the Commissioner of Banks may suspend the limitations on loans and investmentsinsofar as they would apply to the loan or investment that the savings bankdesires to make, as long as every loan or investment is amply secured and isfor a period not longer than 36 months. (1991, c. 680, s. 1; 2001‑193, s. 16.)