North Carolina § 54C-163 - Net worth requirement.
Full text of North Carolina North Carolina General Statutes § 54C-163 — Net worth requirement., with citation guidance and answers to common questions.
§ 54C-163. Net worth requirement.
A savings bank shall maintain net worth in an amount that may be established in the rules of the Commissioner of Banks, but the requirement shall not be less than five percent (5%) of the assets of the savings bank. Upon receipt of a duly certified copy of a resolution by the board of directors of any savings bank requesting a temporary suspension, the Commissioner of Banks may suspend the net worth requirement for a period not longer than six months. History (1991, c. 680, s. 1; 2001-193, s. 16.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 54C-163
What does North Carolina General Statutes § 54C-163 cover?
Section 54C-163 ("Net worth requirement.") 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 § 54C-163?
A common citation format is "North Carolina General Statutes § 54C-163" (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 § 54C-163 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.