NC H951

Repeals Articles 1-10, 12, and 13 of Chapter 53 and replaces them with a new comprehensive Chapter 53C establishing modernized banking regulation in North Carolina, including provisions for bank organization, governance, powers, operations, and supervision.

Creates a State Banking Commission with 15 members (including State Treasurer) and establishes the Commissioner of Banks as the executive officer responsible for chartering, examining, and supervising banks and related financial institutions.

Establishes comprehensive procedures for bank charter applications, approval processes, branch establishment, and operations, while granting banks powers equivalent to national banks and federal savings associations to conduct permissible financial activities.

Implements supervisory controls including authority to issue cease-and-desist orders, impose civil money penalties, remove officers and directors, place banks under supervisory control, and manage receivership and liquidation of insolvent banks.

Updates cross-references throughout the General Statutes to direct to the new Chapter 53C provisions regarding bank definitions, deposits, fiduciary accounts, safe deposit boxes, and appeals procedures.