§ 54C-2. Purpose. - North Carolina Statutes

§54C‑2.  Purpose.

The purposes of this Chapterare:

(1)        To provide for thesafe and sound conduct of the business of savings banks, the conservation oftheir assets, and the maintenance of public confidence in savings banks.

(2)        To provide for theprotection of the interests of customers and members.

(3)        To provide theopportunity for savings banks to remain competitive with each other and withother depository institutions existing under other laws of this and otherstates and the United States.

(4)        To provide for anincrease in the savings base of the State and local control of the means offinance and accumulation of capital.

(5)              To provide theopportunity for the management of savings banks to exercise prudent businessjudgment in conducting the affairs of savings banks to the extent compatiblewith the purposes recited in this section.

(6)        To provide adequaterulemaking power and administrative discretion so that the regulation andsupervision of savings banks are readily responsive to changes in localeconomic conditions and depository institution practices. (1991,c. 680, s. 1.)