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Laws of North Carolina (Last Updated: May 12, 2015) |
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Chapter53. Regulation of Financial Services. |
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Article24. Trust Companies and Interstate Trust Business |
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Part3. State Trust Company Charter Act |
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SUBPARTB. Organization and Powers of State Trust Company. |
§53-338. Subordinated notes or debentures
Latest version.
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The amount of any outstanding notes or debentures that are subordinated to creditors or classes of creditors of the State trust company may be treated as equity capital of the State trust company for purposes of determining equity capital adequacy, hazardous condition, or insolvency, and for other purposes, as provided by rules, orders, or declaratory rulings of the Commissioner.
(2001-263, s. 1.)