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Naming of conservator not liquidation.

G.S. 53-405
in effect
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§ 53-405.  Naming of conservator not liquidation. 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. (2001-263, s. 1.) Subpart D. Sale of Assets; Issuance of Preferred Stock by Jeopardized State Trust Company.
Source: North Carolina General Assembly (ncleg.gov)URL: https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_53/GS_53-405.htmlFetched: 10/19/2026

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