§ 54C-41. Voluntary dissolution by directors.
§54C‑41. Voluntary dissolution by directors.
A State savings bank may bevoluntarily dissolved by a majority vote of the board of directors whensubstantially all of the assets have been sold for the purpose of terminatingthe business of the savings bank or as provided in G.S. 55‑14‑01and when a certificate of dissolution is recorded in the manner required bythis Chapter for the recording of certificates of incorporation. (1991,c. 680, s. 1.)