04 NCAC 16F .0105          AMENDMENTS TO ARTICLES OF INCORPORATION OR BYLAWS

(a)  Prior to filing with the Secretary of State of North Carolina, a service corporation shall file with the Commissioner of Banks copies of any proposed amendment to its articles of incorporation. The Commissioner of Banks must approve the form and content of the proposed amendment.

(b)  Before the bylaws or any amendments to the bylaws of a service corporation shall become effective, a certified copy of the bylaws or amendments shall be filed with and approved by the Commissioner of Banks. If the Commissioner of Banks fails to act upon the bylaws or amendment within 60 days of receipt, the bylaws or amendment shall be deemed approved.

History Note:        Authority G.S. 54B-55; 54B-194; 54C-53; 54C-144;

Eff. August 31, 1981;

Amended Eff. November 1, 2017; December 1, 2011; July 1, 1990;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. November 22, 2018.