§ 53-346. Lending and lease financing; conversion to State bank.
A state trust company generally may not run a loan business or make lease-financing loans as the lender, except for certain trust or account-related credit extensions. It may convert to a State bank only with the Commissioner’s approval and by following Article 2 procedures as modified when necessary. The Commissioner
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- Jurisdiction
- United States — North Carolina
- Instrument
- Act or statute
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- Undated source snapshot
- Language
- en
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Statute overview
About this statute
A state trust company generally may not run a loan business or make lease-financing loans as the lender, except for certain trust or account-related credit extensions. It may convert to a State bank only with the Commissioner’s approval and by following Article 2 procedures as modified when necessary. The Commissioner may modify those procedures by rule, order, or declaratory ruling.
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§ 53-346. Lending and lease financing; conversion to State bank.
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