Laws of North Carolina (Last Updated: May 12, 2015) |
Chapter53C. Regulation of Banks. |
Article9. Supervisory Liquidation; Voluntary Dissolution and Liquidation |
Part4. Provisions Relating to Any Dissolution or Receivership |
§53C-9-405. Appointment of substitute trustee where no objection made
Latest version.
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If, upon the day fixed in the notice, no person appears and objects to the appointment of a substitute trustee, the clerk of superior court shall, upon such terms as he or she deems advisable to the best interest of all parties, appoint a competent person authorized to act as substitute trustee, who shall be vested with and shall exercise all the powers conferred upon the trustee named in the instrument.
(2012-56, s. 4.)