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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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SUBPARTC. Investments and Activities. |
§53-343. Prohibited distributions, acquisitions, liens, or pledges
Latest version.
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A State trust company shall not make any distribution to its shareholders, acquire its own shares, acquire a lien upon its own shares, or pledge its own assets while an order of the Commissioner prohibiting such distributions, acquisitions, liens, or pledges is in effect.
(2001-263, s. 1.)