All institutions doing business in this State in lending money and receiving deposits, under acts of incorporation granted by the State, under penalty of a forfeiture of their charters, shall provide when and as called for by the State Board of Financial Institutions, without previous notice, a correct report of the condition and business of the institution. The report shall contain a statement under oath by the president or cashier of the institution of the amount of the capital stock paid in, deposits, discounts, property, and liabilities of the institution verified by three of the directors. This section applies to all private banking institutions whether chartered or not. The board shall accept in lieu of the report required by this section a report of condition filed with the federal banking agencies.
HISTORY: 1962 Code Section 8-259; 1952 Code Section 8-259; 1942 Code Section 7861; 1932 Code Sections 1354, 7858; Cr. C. '22 Sections 245, 3988; Cr. C. '12 Sections 255, 2642; Civ. C. '02 Section 1766; G. S. 1352; R. S. 1468; 1874 (15) 526; 1904 (24) 398; 1909 (26) 90; 1933 (36) 296; 1936 (39) 1484; 1985 Act No. 128, Section 3; 1995 Act No. 116, Section 1, eff (became law without the Governor's signature on June 13, 1995).
Effect of Amendment
The 1995 amendment provided for submitting a report of condition filed with federal banking agencies in lieu of the report required by this section.