North Carolina § 53-368 - Assessment of State trust companies.
Full text of North Carolina North Carolina General Statutes § 53-368 — Assessment of State trust companies., with citation guidance and answers to common questions.
§ 53-368. Assessment of State trust companies.
For the purpose of operating and maintaining the office of the Commissioner, each State trust company shall pay into the office of the Commissioner, within 10 days after notice, an annual assessment of ten thousand dollars ($10,000) plus one dollar ($1.00) per one hundred thousand dollars ($100,000) of assets held for its accounts, exclusive of nonsecuritized real estate interests. For purposes of this assessment, the amount of assets held for accounts shall be determined as of the close of business on December 31 of each year. If an application for merger, share exchange, sale of assets, change of control, conversion, or a similar transaction occasions an examination or if the Commissioner determines that the financial condition or manner of operation of a State trust company warrants further examination or an increased level of supervision, a State trust company may be subject to an additional assessment not to exceed the amount required of all State trust companies by subsection (a) of this section. Repealed by Session Laws 2012-56, s. 32, effective October 1, 2012. History (2001-263, s. 1; 2007-55, s. 2; 2012-56, s. 32.) Editor's Note. - Subsection (a), as amended by Session Laws 2007-55, s. 2, effective May 23, 2007, is applicable to assessments made on or after that date. Effect of Amendments. - Session Laws 2007-55, s. 2, effective May 23, 2007, and applicable to assessments made on or after that date, substituted "ten thousand dollars ($10,000)" for "six thousand dollars ($6,000)" in subsection (a). Session Laws 2012-56, s. 32, effective October 1, 2012, repealed subsection (c), which read: "Except as set forth in this section, fees and assessments of a State trust company shall be governed by G.S. 53-122. Fees and assessments collected under the provisions of this section shall be considered to be part of the total fees collected under G.S. 53-122(d)." SUBPART B. Enforcement Orders; Trust Company Management.
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 53-368
What does North Carolina General Statutes § 53-368 cover?
Section 53-368 ("Assessment of State trust companies.") 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 § 53-368?
A common citation format is "North Carolina General Statutes § 53-368" (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 § 53-368 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.