North Carolina § 53-356 - Responsibility of directors.
Full text of North Carolina North Carolina General Statutes § 53-356 — Responsibility of directors., with citation guidance and answers to common questions.
§ 53-356. Responsibility of directors.
The standard of conduct for directors shall be as set forth in G.S. 55-8-30. Any director of a State trust company who shall knowingly violate, or who shall knowingly permit to be violated by any officers, agents, or employees of such State trust company, any of the provisions of this Article shall be held personally and individually liable for all damages which the State trust company, its shareholders, or any other person has sustained in consequence of the violation. Any aggrieved shareholder of any State trust company in liquidation may prosecute an action for the enforcement of the provisions of this section. Only one such action may be brought. The procedure shall follow, as much as possible, that prescribed by Article 3 of Chapter 44A of the General Statutes, relative to suits on bonds of contractors with municipal corporations. History (2001-263, s. 1.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 53-356
What does North Carolina General Statutes § 53-356 cover?
Section 53-356 ("Responsibility of directors.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Carolina § 53-356?
A common citation format is "North Carolina General Statutes § 53-356" (North Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 53-356 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Carolina.