North Carolina Administrative Code

04 NCAC 03B .0222 FILING OF DOCUMENTS (a) All requests for hearing, written answers, motions, responses to motions or other papers required or permitted to be filed in any contested case shall be signed by the party or the party's attorney and the original thereof filed with the …

04 NCAC 03B .0223 REQUEST FOR A HEARING (a) A person aggrieved may request a hearing, which shall be conducted by a hearing officer. The request shall be made in writing, state all statutory or other legal bases for the request, describe the events or circumstances giving rise to…

04 NCAC 03B .0224 DATE, TIME AND LOCATION OF HEARING; MOTIONS TO CONTINUE (a) The date, time and location of any hearing under this Subchapter shall be set forth in the notice of hearing or other paper which commences the hearing process. (b) Any party may move to continue the he…

04 NCAC 03B .0225 MOTIONS (a) Any party may file any motion which would be permitted under the Rules of Civil Procedure if the contested case was pending in a Court. (b) The opposing party may file such response as is permitted by the Rules of Civil Procedure to any such motion w…

04 NCAC 03B .0226 PRE-HEARING CONFERENCE (a) If the hearing officer determines that to do so would aid in the prompt and efficient resolution of any contested case, the hearing officer may order that the parties attend a pre-hearing conference. The notice of the conference shall …

04 NCAC 03B .0227 HEARINGS (a) Prior to the commencement of a hearing, the hearing officer shall rule on any outstanding motions. (b) Once a hearing has begun the hearing officer, may adjourn the hearing and reconvene the same at a later time or date. (c) Hearings are open to the…

04 NCAC 03B .0228 STIPULATIONS Parties may by written stipulation agree upon the facts or any portion thereof and their stipulation may be regarded and used as evidence at the hearing. However, the hearing officer shall not be precluded from requiring or allowing the introduction…

SECTION .0300 - APPEALS TO THE STATE BANKING COMMISSION 04 NCAC 03B .0301 APPOINTMENT OF APPELLATE PANEL In the event the Chairman of the Commission, pursuant to G.S. 53C-2-6(b) appoints an appellant panel to consider an appeal and make a recommended decision to the State Banking…

04 NCAC 03B .0302 RECORD ON APPEAL; HEARING DATE; MEMORANDA OF LAW (a) The record on appeal shall consist of the official agency record as set forth in G.S. 150B-42. (b) The Commissioner's counsel, after consulting with the chair of the Commission or Appellate Panel, shall provid…

04 NCAC 03B .0303 ORAL ARGUMENT (a) The decision to hear oral argument in an appeal to the Commission shall be in the discretion of the Commission or Appellate Panel. If oral argument is permitted, the chair of the Commission or Appellate Panel shall notify the Commissioner, who …

04 NCAC 03B .0304 COMMISSION REViEW OF APPELLATE PANEL'S RECOMMENDED DECISION (a) If an appeal is heard by an Appellate Panel, that Appellate Panel, after reviewing the record on appeal, memoranda of law and hearing oral arguments, if any, shall make a recommended decision to the…

04 NCAC 03C .0107 BANK CERTIFICATE History Note: Authority G.S. 53C-2-5; 53C-3-7; Eff. February 1, 1976; Amended Eff. January 1, 2013; Repealed Eff. October 1, 2014.

04 NCAC 03C .0108 JUDICIAL REVIEW History Note: Authority G.S. 53-92; 150A-11(1); 150A-43; Eff. February 1, 1976; Repealed Eff. January 1, 1985.

04 NCAC 03C .0109 APPLICATION TO ESTABLISH BANK: CONDITIONAL APPROVAL History Note: Authority G.S. 53-5; 53-92; 53-104; 150A-11(1); Eff. February 1, 1976; Repealed Eff. November 1, 1982.

04 NCAC 03C .0110 ORGANIZATIONAL EXPENSES History Note: Authority G.S. 53-2; 53-92; 53-104; Eff. February 1, 1976; Amended Eff. July 1, 1991; September 1, 1990; Repealed Eff. January 1, 2013.

04 NCAC 03C .0111 NATIONAL BANK CONVERSION History Note: Authority G.S. 53C-2-5; 53C-7-301; Eff. September 26, 1979; Amended Eff. January 1, 2013; September 1, 2006; September 1, 1990; August 1, 1988; Repealed Eff. October 1, 2014.

04 NCAC 03C .0112 ELIMINATION OF DIRECTOR LIABILITY History Note: Authority G.S 53C-2-5; 53C-4-6; 55-2-02(b)(3); 55-8-30; Eff. June 1, 1995; Amended Eff. January 1, 2013; Repealed Eff. October 1, 2014.

SECTION .0200 - BRANCHES 04 NCAC 03C .0201 ESTABLISHMENT OF BRANCHES History Note: Authority G.S. 53C-2-5; 53C-6-15; Eff. February 1, 1976; Amended Eff. January 1, 2013; September 1, 2006; June 1, 1995; July 1, 1991; October 1, 1990; November 1, 1982; Repealed Eff. October 1, 201…

04 NCAC 03C .0202 DISCONTINUANCE History Note: Authority G.S. 53-4; 53-62; 53-92; 53-104; Eff. February 1, 1976; Amended Eff. September 1, 2006; June 1, 1995; October 1, 1990; November 1, 1982; Repealed Eff. January 1, 2013.

SUBCHAPTER 03C - BANKS SECTION .0300 - CHANGE OF LOCATION 04 NCAC 03C .0301 CHANGE OF LOCATION OF MAIN OFFICE, BRANCH OR LTD SVC FACILITY History Note: Authority G.S. 53-62; 53-92; 53-104; 53-122(3); Eff. February 1, 1976; Amended Eff. September 1, 2006; June 1, 1995; September 1…

SECTION .0400 - CONSOLIDATION OF BANKS 04 NCAC 03C .0401 APPLICATION History Note: Authority G.S. 53-12; 53-92; Eff. February 1, 1976; Amended Eff. September 1, 2006; September 1, 1990; July 24, 1979; Repealed Eff. February 1, 2013.

04 NCAC 03C .0402 PUBLICATION History Note: Authority G.S. 53-12; 53-92; 150B-11(1); Eff. February 1, 1976; Repealed Eff. August 1, 1988.

04 NCAC 03C .0406 FILING WITH SECRETARY OF STATE History Note: Authority G.S. 53-13; 53-92; Eff. February 1, 1976; Amended Eff. September 1, 1990; Repealed Eff. February 1, 2013.

04 NCAC 03C .0407 WAIVER BY COMMISSIONER History Note: Authority G.S. 53C-2-5; 53C-2-1; 53C-9-101; Eff. November 1, 1982; Amended Eff. January 1, 2013; Repealed Eff. October 1, 2014.

04 NCAC 03C .0503 DAYS AND HOURS OF REGULAR OPERATION History Note: Authority G.S. 53-77.1A(d); 53-92; Eff. July 1, 1990; Repealed Eff. January 1, 2013.

04 NCAC 03C .0807 SUBSIDIARY INVESTMENT APPROVAL History Note: Authority G.S. 53-47; 53-93; 53-95; 53-104; Eff. May 1, 1992; Amended Eff. December 1, 2011; June 1, 1995; Repealed Eff. January 1, 2013.

Section .0900 – OPERATIONS 04 NCAC 03C .0901 BOOKS AND RECORDS (a) Each bank, each affiliate of the bank, and the bank's parent holding company, shall keep, and make available for examination by the representatives of the Commissioner of Banks, books and records that reflect all …

04 NCAC 03C .0902 REQUIRED ACCOUNTS To ensure that the books and records of the bank properly reflect all of its liabilities, the following reserve accounts shall be set up and maintained by all banks: (1) Reserve for Interest Due Depositors. This reserve shall be set up and prop…

04 NCAC 03C .0903 RETENTION: REPRODUCTION AND DISPOSITION OF BANK RECORDS (a) Each bank, at a location with secured access, shall keep and retain books, ledgers, records, and documents set forth for the periods specified. Bank Records Minimum to be Retained Retention Period ACCOU…

04 NCAC 03C .0904 LETTERS OF CREDIT The bank shall maintain supporting records on all letters of credit issued and outstanding, except for letters of credit sold for cash, and shall show the following information: (1) the name of the account party for whom the letter of credit is…

04 NCAC 03C .0905 investment authority A bank may invest in mutual funds to the same extent and within the same limitation as permitted for national banks by statute, regulation, or interpretation of the applicable federal regulator, as reflected in the U.S. Office of the Comptro…

SECTION .1000 - LOAN ADMINISTRATION AND LEASING 04 NCAC 03C .1001 LOAN DOCUMENTATION (a) Each bank shall establish and maintain loan documentation practices that include the following: (1) enable the institution to make an informed lending decision and to assess risk, as necessar…

04 NCAC 03C .1002 LEASING OF PERSONAL PROPERTY Each bank acquiring and leasing personal property or, acquiring personal property that is subject to an existing lease together with the lessor's interest therein and incurring such additional obligations as may be incident to becomi…

SECTION .1300 - BANK PERSONNEL 04 NCAC 03C .1301 ANNUAL VACATION History Note: Authority G.S. 53-92; 53-104; Eff. February 1, 1976; Amended Eff. June 1, 1995; October 1, 1990; Repealed Eff. April 1, 2007.

04 NCAC 03C .1302 SHARE PURCHASE AND OPTION PLANS History Note: Authority G.S. 53-10; 53-43; 53-43.3; 53-104; Eff. February 1, 1976; Amended Eff. October 1, 2011; June 1, 1995; July 1, 1990; Repealed Eff. January 1, 2013.

04 NCAC 03C .1303 INSIDER TRANSACTIONS History Note: Authority G.S. 53-92; 53-95; 53-104; 53-106; 53-110; Eff. April 21, 1979; Repealed Eff. January 1, 1984.

SECTION .1400 - LEGAL RESERVE 04 NCAC 03C .1401 REQUIREMENT OF RESERVE FUND (a) The amount of the reserve fund which shall be established and maintained shall at all times equal the reserves required by the Federal Reserve System for non-member banks. (b) In the event the reserva…

04 NCAC 03C .1402 BASIS FOR COMPUTATION AND MAINTENANCE Required reserves shall be computed on the basis of the daily average deposit balance during a 14-day period ending every second Monday (the "computation period"). The method for determining the amount of reserve required is…

04 NCAC 03C .1403 RESERVE FUND DEFINED History Note: Authority G.S. 53-51; 53-92; 53-104; Eff. September 26, 1979; Amended Eff. August 6, 1981; Repealed Eff. January 1, 2013.

SECTION .1600 – FEES 04 NCAC 03C .1601 FEES, COPIES AND PUBLICATION COSTS (a) For applications, petitions, and other proceedings to be filed with the Commissioner of Banks, the following fees shall be paid to the Commissioner of Banks at the time of filing: (1) Application for th…

SECTION .1700 – NON-Branch Bank business office 04 NCAC 03C .1701 DEFINITIONS History Note: Authority G.S. 53-104; 53-115; 53-127; Eff. June 1, 1995; Repealed Eff. January 1, 2013.

04 NCAC 03C .1702 ESTABLISHMENT OF A NON-BRANCH BANK BUSINESS OFFICE (nbbo) (a) A bank may establish or relocate a NBBO as defined in G.S. 53C-1-4(46) upon giving written notice to the Commissioner of Banks. The notice shall acknowledge: (1) The NBBO may be used to solicit loans,…

SECTION .1800 - COURIER SERVICE 04 NCAC 03C .1801 ESTABLISHMENT OF COURIER SERVICES A bank may provide a courier or messenger service to its customers only if: (1) the bank complies with the requirements imposed by the Private Protective Services Act G.S. 74C-1. Et. Seq.; and (2)…

04 NCAC 03C .1802 COMPLIANCE AND DISCLOSURE REQUIREMENTS History Note: Authority G.S. 53C-5-1; 53C-8-1; Eff. June 1, 1995; Repealed Eff. October 1, 2014.

SUBCHAPTER 03D - SUPERVISION OF STATE TRUST ENTITIES SECTION .0100 - LICENSING 04 NCAC 03D .0101 APPLICATION History Note: Authority G.S. 53-92; 53-160; Eff. February 1, 1976. Amended Eff. September 1, 2006; Repealed Eff. October 1, 2012 pursuant to G.S. 150B-21.7.

04 NCAC 03D .0105 DEFINITIONs As used in this Subchapter: (1) "Board of Directors" shall have the same meaning as defined in G.S. 53-301(a)(6a). (2) "Collective investment fund" shall mean any fund established pursuant to 12 C.F.R. 9.18, which is incorporated by reference in Rule…

section .0200 - REPORTS REQUIRED BY COMMISSIONER OF BANKS 04 NCAC 03D .0201 reports OF condition of state TRUST entities Each state trust entity, on a form or forms provided by the Office of the Commissioner of Banks, shall submit reports of condition that shall include informati…

04 NCAC 03D .0202 REPORT OF TRUST DEPARTMENT History Note: Authority G.S. 53-92; 53-106; Eff. February 1, 1976; Amended Eff. September 1, 2006; September 26, 1979; Repealed Eff. October 1, 2012 pursuant to G.S. 150B-21.7.

SECTION .0300 - TRUST DEPARTMENT 04 NCAC 03D .0301 DEFINITIONS History Note: Authority G.S. 53-92; 53-104; Eff. February 1, 1976; Amended Eff. September 1, 1990; Repealed Eff. October 1, 2012 pursuant to G.S. 150B-21.7.

04 NCAC 03D .0302 ADMINISTRATION OF trust business (a) A state trust entity shall conduct its trust business separate and apart from any other business it conducts. A state trust entity may, however, utilize personnel and facilities of other departments of the state trust entity …