NC H277

Clarifies definition of "bank" to exclude trust institutions and adds definition of "consumer finance licensee" as person associated with a licensee under G.S. 53-165(h).

Modifies director service of process requirements to require directors to consent to Commissioner jurisdiction and venue in Wake County, with Commissioner serving as agent for service unless director appoints alternate agent.

Establishes requirement for banks to report changes in directors and certain officers (president, CEO, CFO, chief loan officer, chief credit officer) to Commissioner within two business days of the change.

Allows banks to request Commissioner discretionary suspension of loan limitation restrictions on individual loans through board resolution, and adds appeal rights for banks denied new activity approvals or investment objections.

Makes technical amendments to subsidiary investment provisions, account succession rules, trust institution provisions, and holding company control transaction requirements to clarify existing law and remove obsolete references.