04 NCAC 16H .0104         ADOPTION OF PLAN

The board of directors shall adopt a plan of conversion, merger, consolidation, combination merger and conversion, or any other action as authorized or required by the Commissioner of Banks. A plan of conversion, merger, consolidation, combination merger and conversion, or any other action adopted pursuant to this Rule shall be submitted to the Commissioner of Banks for approval.

History Note:        Authority G.S. 54B‑44; 54C‑45;

Eff. December 1, 1981;

Amended Eff. November 1, 2017; November 1, 1985; October 1, 1982;

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