§ 54C-53. Power of Commissioner of Banks to adopt rules and definitions; reproduction of records. - North Carolina Statutes

§ 54C‑53.  Power ofCommissioner of Banks to adopt rules and definitions; reproduction of records.

(a)        The Commissioner ofBanks shall adopt rules, definitions, and forms as may be necessary for thesupervision and regulation of savings banks and for the protection of thepublic investing in savings banks.

(b)        Without limitingthe generality of subsection (a) of this section, the Commissioner of Banks mayadopt rules, definitions, and forms with respect to the following:

(1)        Reserverequirements;

(2)        Stock ownership anddividends;

(3)        Stock transfers;

(4)        Originalincorporators, stockholders, directors, officers, and employees of a savingsbank;

(5)        Bylaws;

(6)        The operation ofsavings banks;

(7)        Deposit accounts,bonus plans, and contracts for savings programs;

(8)        Loans and loanexpenses;

(9)        Investments andresource management;

(10)      Forms of proxies,holders of proxies, and proxy solicitations;

(11)      Types of financialrecords to be maintained by savings banks;

(12)      Retention periods ofvarious financial records;

(13)      Internal controlprocedures of savings banks;

(14)      Conduct andmanagement of savings banks;

(15)      Chartering andbranching;

(16)      Liquidations,dissolutions, and receiverships;

(17)      Mergers,consolidations, conversions, and combination mergers and conversions;

(18)      Interim savingsbanks;

(19)      Reports that may berequired by the Commissioner of Banks;

(20)      Conflicts ofinterest;

(21)      Service corporations;and

(22)      Subsidiary savingsbanks and holding companies, including the rights of members, levels ofinvestment in the subsidiaries, and stock sales.

(c)        A savings bank maycause any or all of its records to be recorded, copied, or reproduced by anyphotographic, photostatic, or miniature photographic process that correctly,accurately, permanently copies, reproduces, or forms a medium for copying orreproducing the original record on a film or other durable material.

(d)        A photographic,photostatic, or miniature photographic copy or reproduction is deemed to be anoriginal record in all courts and administrative agencies for the purpose ofits admissibility in evidence. A facsimile, exemplification or certified copyof any photographic copy or reproduction is deemed to be a facsimile,exemplification, or certified copy of the original record for all purposes.

(e)        This section, withreference to the retention and disposition of records, shall apply to anyfederal savings bank operating in North Carolina unless in conflict withregulations prescribed by its federal regulatory authority. (1991, c. 680, s. 1; 2001‑193,s. 16.)