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North Carolina General Statutes Chapter 53. Regulation of Financial Services § 53-405. Naming of conservator not liquidation

Current as of January 01, 2023 | Updated by Findlaw Staff

No power conferred in this Subpart upon the Commissioner, when exercised, shall be deemed as an act of possession for the purposes of liquidation; and whenever the Commissioner shall, with reference to any State trust company for which a conservator is appointed, deem that liquidation is necessary, the Commissioner shall exercise the powers for the purposes of liquidation as provided in Subpart B of Part 5 of this Article.

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Cite this article: FindLaw.com - North Carolina General Statutes Chapter 53. Regulation of Financial Services § 53-405. Naming of conservator not liquidation - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-53-regulation-of-financial-services/nc-gen-st-sect-53-405/

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