North Carolina § 53-346 - Lending and lease financing; conversion to State bank.
Full text of North Carolina North Carolina General Statutes § 53-346 — Lending and lease financing; conversion to State bank., with citation guidance and answers to common questions.
§ 53-346. Lending and lease financing; conversion to State bank.
Except as may be appropriate for extensions of credit in connection with trust or other account relationships, and as provided in and subject to the provisions of Article 5 of Chapter 36A of the General Statutes and other provisions of applicable law, a State trust company shall not engage in a loan business or in lease financing transactions as the party extending credit. Notwithstanding any other provision of this Chapter, a State trust company may, with the approval of the Commissioner, convert to a State bank by following the procedures and requirements set forth in Article 2 of this Chapter, subject to any modifications to those procedures and requirements that are necessary and appropriate for the conversion of a State trust company. The Commissioner may make modifications to procedures or requirements of Article 2 of this Chapter by rule, order or declaratory ruling. History (2001-263, s. 1.) SUBPART D. Ownership; Governance; Mergers.
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 53-346
What does North Carolina General Statutes § 53-346 cover?
Section 53-346 ("Lending and lease financing; conversion to State bank.") 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 § 53-346?
A common citation format is "North Carolina General Statutes § 53-346" (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 § 53-346 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.