North Carolina § 53-160 - License to do business.
Full text of North Carolina North Carolina General Statutes § 53-160 — License to do business., with citation guidance and answers to common questions.
§ 53-160. License to do business.
Before any such trust institution is authorized to act in any fiduciary capacity without bond, it must be licensed by the Commissioner of Banks of the State. For such license the licensee, for the purpose of defraying necessary expenses of the Commissioner of Banks and the Commissioner's agents, shall pay to the Commissioner of Banks an annual license fee of five hundred dollars ($500.00). History (1945, c. 743, s. 1; 1967, c. 789, s. 20; 2001-263, s. 3; 2004-171, s. 5; 2011-339, s. 7.) Effect of Amendments. - Session Laws 2011-339, s. 7, effective October 1, 2011, and applicable to all trusts created before, on, or after that date, rewrote the section.
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 53-160
What does North Carolina General Statutes § 53-160 cover?
Section 53-160 ("License to do business.") 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 § 53-160?
A common citation format is "North Carolina General Statutes § 53-160" (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 § 53-160 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.