§ 54B-269. Conditions for approval.
§ 54B‑269. Conditionsfor approval.
No application by an out‑of‑stateassociation received under this Article may be finally approved by theCommissioner of Banks unless:
(1) The Commissioner ofBanks has received in writing approval of the proposed transaction from thesupervisor of the out‑of‑state association;
(2) The supervisor ofthe out‑of‑state association agrees in writing to share with theCommissioner of Banks examination reports prepared by the supervisor and anyother information deemed necessary by the Commissioner of Banks regarding theout‑of‑state association;
(3) The out‑of‑stateassociation agrees in writing to make available to the Commissioner of Banksall information that may be required to effectively examine the association;
(4) The out‑of‑stateassociation agrees in writing that so long as it maintains a branch in NorthCarolina, it will meet the conditions set forth in this Article and comply withall applicable North Carolina laws and any rules issued thereunder, as well asany orders or directives issued to the association by the Commissioner ofBanks;
(5) The home state ofthe out‑of‑state association permits associations chartered underthe laws of this State to establish branches within its border; and
(6) The out‑of‑stateassociation designates and files with the Office of the Secretary of State adocument appointing an agent in this State to receive service of judicialprocess. (1993,c. 191, s. 2; 2001‑193, s. 16.)