§ 54C-204. Special conditions.

(a)The Commissioner of Banks may require an out-of-state savings bank to designate one of its branches in North Carolina as a “headquarters branch” and may, by rule, require that reports, books, and records required of savings banks doing business under this Article be available at the designated headquarters branch. (b)Once an out-of-state savings bank has established at least one branch in North Carolina pursuant to this Article, subsequent applications to establish additional branches shall be considered on the same basis as an application of a State savings bank to establish an additional branch pursuant to G.S. 54C-23. (c)If an out-of-state savings bank establishes a branch or branches by merger with or purchase from a savings bank located in this State, and the out-of-state savings bank and the savings bank located in this State are both owned by the same holding company, any conditions, limitations, or restrictions placed on the holding company, pursuant to Article 9 of this Chapter, shall continue to apply to both the acquiring out-of-state savings bank and its holding company. History: History.1993, c. 191, s. 3; 2001-193, s. 16.