North Carolina § 54C-17 - Insurance of accounts required.
Full text of North Carolina North Carolina General Statutes § 54C-17 — Insurance of accounts required., with citation guidance and answers to common questions.
§ 54C-17. Insurance of accounts required.
A State savings bank shall obtain and maintain insurance on all members' and customers' deposit accounts from an insurance corporation created by an act of Congress. Before the licensing of a savings bank, a certificate of incorporation duly recorded under G.S. 54C-14(c), is deemed to be sufficient certification to the insuring corporation that the savings bank is a legal corporate entity. The insurance shall be obtained within the time limit prescribed in G.S. 54C-19. Subject to the rules of the Commissioner of Banks, a State savings bank may obtain or participate in efforts to obtain insurance of deposits that is in excess of the amount eligible for federal insurance of accounts. This insurance is known as "excess insurance". History (1991, c. 680, s. 1; 2001-193, s. 16.) § 54C-18: Repealed by Session Laws 1999-179, s. 2, effective June 14, 1999.
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 54C-17
What does North Carolina General Statutes § 54C-17 cover?
Section 54C-17 ("Insurance of accounts required.") 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-17?
A common citation format is "North Carolina General Statutes § 54C-17" (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-17 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.