North Carolina § 53C-9-203 - Voluntary dissolution and liquidation procedure.
Full text of North Carolina North Carolina General Statutes § 53C-9-203 — Voluntary dissolution and liquidation procedure., with citation guidance and answers to common questions.
§ 53C-9-203. Voluntary dissolution and liquidation procedure.
At the appropriate time, the Commissioner shall do the following: Inform the FDIC and the bank's federal supervisory agency if other than the FDIC. Select and appoint a receiver or receiver in liquidation, just as if the liquidation were involuntary under G.S. 53C-9-301. Attach a certificate of approval to the articles of dissolution, and the bank shall then file the certified articles with the Secretary of State. Upon the filing of the articles of dissolution with the Secretary of State, it shall be unlawful for the bank to accept any additional deposit accounts or additions to deposit accounts or make any additional extensions of credit, but all its income and receipts in excess of actual expenses of liquidation of the bank shall be applied to the discharge of its liabilities. The persons charged with liquidation of the bank in the approved plan of dissolution shall cause to be published a public notice stating the bank has closed and will dissolve and liquidate and notifying its depositors and creditors to present their claims for payment, specifying the method for doing so. The bank may pay reasonable compensation, subject to the approval of the Commissioner, to the persons charged with its liquidation. Any bank in the process of voluntary dissolution and liquidation shall be subject to examination by the Commissioner and shall furnish any reports required by the Commissioner. If the Commissioner determines at any time that the voluntary liquidation plan is not working, the Commissioner may place the bank in receivership pursuant to G.S. 53C-9-301. History (2012-56, s. 4.) PART 3. RECEIVERSHIP; INVOLUNTARY DISSOLUTION.
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 53C-9-203
What does North Carolina General Statutes § 53C-9-203 cover?
Section 53C-9-203 ("Voluntary dissolution and liquidation procedure.") 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 § 53C-9-203?
A common citation format is "North Carolina General Statutes § 53C-9-203" (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 § 53C-9-203 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.