§ 54C-45. Supervisory mergers, consolidations, conversions, and combination mergers and conversions. - North Carolina Statutes

§ 54C‑45.  Supervisorymergers, consolidations, conversions, and combination mergers and conversions.

Notwithstanding any otherprovision of this Chapter, in order to protect the public, including members,depositors, and stockholders of a State savings bank, the Commissioner ofBanks, upon making a finding that a State savings bank is unable to operate ina safe and sound manner, may authorize or require a short form merger,consolidation, conversion, or combination merger and conversion of the Statesavings bank, or any other transaction, as to which the finding is made. (1991, c. 680, s. 1; 2001‑193,s. 16.)