§ 54C-176. Power to borrow money. - North Carolina Statutes

§54C‑176.  Power to borrow money.

A savings bank, in itscertificate of incorporation or in its bylaws, may authorize the board ofdirectors to borrow money, and the board of directors may, by resolutionadopted by a vote of at least two‑thirds of the entire board dulyrecorded in the minutes, authorize the officers of the savings bank to borrowmoney for the savings bank on any terms and conditions as the board may deemproper. (1991, c. 680, s. 1.)