Chapter 53

The supervisory powers and other provisions set forth in G.S. 53-224.24 through G.S. 53-224.31 shall apply to Parts 2 and 3 of this Article. (1995, c. 322, s. 2.)

(a) The Commissioner may make such examinations of any branch of an out-of-state state bank established under this Article and located in this State as the Commissioner may deem necessary to determine whether the branch is operating in compliance with the laws of this State and t…

If the Commissioner determines that a branch maintained by an out-of-state state bank in this State is being operated in violation of any provision of the laws of this State, or that such branch is being operated in an unsafe and unsound manner, the Commissioner shall have the au…

The Commissioner, subject to review and approval of the North Carolina State Banking Commission, may adopt rules needed to implement this Article. Chapter 150B of the General Statutes governs the adoption of rules by the Commissioner. (1995, c. 322, s. 2.)

An out-of-state bank that has a branch in North Carolina may establish and acquire additional branches in this State to the same extent as a North Carolina State bank or to the same extent otherwise permitted by federal law. (1995, c. 322, s. 2.)

An out-of-state bank that maintains a branch in this State established pursuant to this Article shall give 30 days' prior written notice to the Commissioner of any merger, consolidation, or other transaction that would cause a change of control with respect to such out-of-state b…

An out-of-state state bank that is subject to an order or written agreement revoking its authority to establish or maintain a branch in North Carolina and any North Carolina State bank that is subject to an order or written agreement revoking its authority to establish or maintai…

Any aggrieved party in a proceeding under this Article may, within 20 days after final decision of the Commissioner, appeal, in writing, such decision to the North Carolina State Banking Commission. An appeal under this section shall be made pursuant to G.S. 53C-2-6. Notwithstand…

If any provision of this Article or the application of such provision is found invalid as to any bank, branch, bank holding company, person, or circumstances, or shall otherwise be deemed superseded by federal law, the remaining provisions of this Article shall not be affected an…

The following definitions apply in this Article: (1) "Acquisition of a branch" means the acquisition of a branch located in a host state without engaging in an "interstate merger transaction" as defined in Part 2 of this Article. (2) "Bank" has the meaning set forth in 12 U.S.C. …

(a) This act shall be known and cited as the North Carolina International Banking Act. (b) This Article is intended to set forth the terms and conditions under which an international banking corporation may enter and do business in North Carolina. (1991, c. 679, s. 1.)

(a) An international banking corporation licensed under this Article shall hold, at its office in this State, currency, bonds, notes, debentures, drafts, bills of exchange, or other evidence of indebtedness or other obligations payable in the United States or in United States fun…

(a) Before opening an office in this State, and annually thereafter so long as a bank office is maintained in this State, an international banking corporation licensed under this Article shall certify to the Commissioner the amount of its paid-in capital, its surplus, and its und…

(a) An international banking corporation licensed under this Article shall, at the times and in the form prescribed by the Commissioner, make written reports in the English language to the Commissioner, under the oath of one of its officers, managers, or agents transacting busine…

(a) When an international banking corporation licensed to maintain an international bank branch or an international bank agency in this State is dissolved or its authority or existence is otherwise terminated or canceled in the jurisdiction of its incorporation, a certificate of …

(a) An international banking corporation that does not transact a banking business or any part of a banking business in or through an office in this State, but maintains an office in this State for other purposes is considered to have an international representative office in thi…

The Banking Commission may adopt rules necessary to implement this Article. (1991, c. 679, s. 1.)

Upon a finding that any action of an international banking corporation or its international banking agency, international banking branch, or international representative office subject to this Article may be in violation of any North Carolina banking law, the Commissioner, after …

Any aggrieved party in a proceeding under this Article may, within 20 days after final decision of the Commissioner, appeal such decision in writing to the Banking Commission. An appeal under this section shall be made pursuant to G.S. 53C-2-6. Notwithstanding any other provision…

(a) The following definitions apply in this Article: (1) Commissioner. - The North Carolina Commissioner of Banks. (2) Federal international bank institution. - A branch, agency, or representative office of an international banking corporation established and operating under the …

(a) An international banking corporation with a home state other than North Carolina may establish and operate, directly or indirectly, a federal international bank institution in this State in accordance with applicable federal law. (b) An international banking corporation with …

(a) International banking corporations, other than federal international bank institutions, are subject to Articles 1 through 14 and Articles 17 and 18 of this Chapter, except where it appears, from the context or otherwise, that a provision is clearly applicable only to banks or…

Notwithstanding the definition of the term "foreign corporation" in G.S. 55-1-40(10), Article 15 of Chapter 55, relating to foreign corporations, where it is not inconsistent with Chapter 53, shall apply to all international banking corporations doing business in this State. (199…

(a) No international banking corporation, other than a federal international bank institution, shall transact a banking business or maintain in this State any office for carrying on a banking business or any part of a banking business unless the corporation: (1) Is authorized by …

(a) A resident of this State may maintain an action against an international banking corporation doing business in this State for any cause of action. For purposes of this subsection, the term "resident of this State" includes any individual domiciled in this State, or any corpor…

(a) Every international banking corporation, before being licensed by the Commissioner to transact a banking business in this State as an international bank branch or as an international bank agency or before maintaining in this State any office to carry on a banking business or …

(a) When the Commissioner has issued a license to an international banking corporation, it may engage in the business authorized by this Article at, and only at, the office specified in the license for a period not exceeding one year from the date of the license or until the lice…

This Article may be cited as the "North Carolina Secure and Fair Enforcement (S.A.F.E.) Mortgage Licensing Act." (2009-374, s. 2; 2025-43, s. 1.)

(a) Purpose. - A primary purpose of this Article is to protect consumers seeking residential mortgage loans and to ensure that the mortgage lending industry operates without unfair, deceptive, and fraudulent practices on the part of mortgage loan originators. Therefore, the Gener…

For purposes of this Article, the following definitions apply: (1) Affiliate. - Any company that controls, is controlled by, or is under common control with another company, as set forth in the Bank Holding Company Act of 1956 (12 U.S.C. § 1841, et seq.) (2) Audited statement of …

(a) Except as provided in subsection (d) of this section, no person shall engage in the mortgage business or act as a mortgage loan originator with respect to any dwelling located in this State without first obtaining and maintaining a license under this Article. It is unlawful f…

(a) Applicants shall have a principal office located in the United States and shall apply through the NMLS on a form acceptable to the Commissioner. An application shall include the following information: (1) The applicant's name and address, including street address, mailing add…

If an applicant satisfies the requirements of G.S. 53-244.040 and G.S. 53-244.050, the Commissioner shall issue a license or registration unless the Commissioner finds any of the following: (1) The applicant has had a mortgage loan originator or mortgage lender, mortgage broker, …

(a) To be eligible for a mortgage loan originator license, an individual shall complete at least 24 hours of prelicensing education approved in accordance with subsection (b) of this section, which shall include all of the following: (1) Three hours of federal statutes and regula…

(a) An individual shall pass a qualified written test, as defined by subsection (b) of this section, developed and administered by a test provider approved by the NMLS. (b) A written test shall not be treated as a qualified written test unless it adequately measures the applicant…

(a) Initial applicants shall pay a nonrefundable filing fee of one thousand two hundred fifty dollars ($1,250) for licensure as a mortgage broker, mortgage lender, or mortgage servicer, three hundred dollars ($300.00) for licensure as an exclusive mortgage broker, or one hundred …

(a) It is unlawful for any person to be engaged in the mortgage business without first obtaining a license issued by the Commissioner under this Article. It is unlawful for any person to employ, compensate, or appoint as its agent an exclusive mortgage broker or a mortgage loan o…

(a) For the purpose of meeting the cost of regulation under this Article, each mortgage lender, mortgage broker, exclusive mortgage broker, and mortgage servicer licensed under this Article shall pay an assessment to the Commissioner. The annual assessment shall consist of a base…

(a) All licenses and registrations issued by the Commissioner under this Article expire annually on the 31st day of December following issuance or on any other date that the Commissioner determines. The license or registration is invalid after that date and remains invalid unless…

(a) A licensed mortgage loan originator shall annually complete at least eight hours of continuing education approved in accordance with subsection (b) of this section, including all of the following: (1) Three hours of federal statutes and regulations. (2) Two hours of ethics, i…

(a) Except for mortgage loan originators employed by registrants, each mortgage loan originator shall be covered by a surety bond through employment with a mortgage lender or mortgage broker in accordance with this section. The surety bond shall provide coverage for each mortgage…

(a) A minimum net worth shall be continuously maintained for licensees in accordance with this section. In the event that the mortgage loan originator is an employee or exclusive mortgage broker of a person subject to this Article, the net worth of the person subject to this Arti…

(a) Every mortgage lender, mortgage broker, mortgage servicer, or registrant shall make and keep the accounts, correspondence, memoranda, papers, books, and other records as prescribed in rules adopted by the Commissioner and shall notify the Commissioner where the records will b…

The unique identifier of any mortgage loan originator or person engaged in the mortgage business as defined in G.S. 53-244.030 shall be clearly shown on all residential mortgage loan application forms, solicitations, advertisements, business cards, websites, other electronic mean…

Each mortgage lender, mortgage broker, mortgage servicer, or mortgage origination support registrant shall submit to the Commissioner and to the NMLS reports of condition and any other reports requested by the Commissioner pursuant to G.S. 53-244.115(d). The reports shall be in t…

Any mortgage broker or mortgage lender engaged in the mortgage business as defined by G.S. 53-244.030(11)a. or b., in addition to duties imposed by other statutes or at common law, shall do all of the following: (1) Safeguard and account for any money handled for the borrower. (2…

Any licensee engaged in the mortgage business as defined by G.S. 53-244.030(11)c., in addition to duties imposed by other statutes or at common law, shall do all of the following: (1) Safeguard and account for any money handled for the borrower. (2) Follow reasonable and lawful i…

In addition to the activities prohibited under other provisions of this Article, it is unlawful for any person in the course of any residential mortgage loan transaction to do any of the following: (1) To misrepresent or conceal the material facts or make false promises likely to…

Engaging in the mortgage business as defined by G.S. 53-244.030(11) or acting as a mortgage loan originator without a license as required by this Article is a Class 3 misdemeanor. Each transaction involving unlicensed activity is a separate offense. (2009-374, s. 2; 2025-43, s. 1…

(a) Unless otherwise provided, all actions, hearings, and procedures under this Article are governed by Article 3A of Chapter 150B of the General Statutes. (b) For purposes of this Article, the Commissioner is deemed to have complied with the requirements of law concerning servic…