North Carolina Administrative Code
Title 04 - COMMERCE
Chapter 16 - SAVINGS INSTITUTIONS
Subchapter F - SERVICE CORPORATIONS AND FINANCE SUBSIDIARIES
Section 16F .0102 - INVESTMENT LIMITATION
Investments in a service corporation include not only stock and other securities of a service corporation, such as notes, bonds and debentures, but also any loans, secured or unsecured, to the service corporation. The investment limitation established by G.S. 54B-194 and G.S. 54C-144 applies to the total investment that a savings institution can make in one or in any number of service corporations. A secured loan to a state-wide multi-owned service corporation shall not be included in the assets investment limitation.
Authority
G.S.
54B-55;
54B-194;
54C-53;
54C-144;
Eff. August
31, 1981;
Amended Eff. July 1, 1990; October 1, 1982;
Temporary Amendment Eff. October 2, 1991 for a period of 180 days to expire on
March 31, 1992;
Amended Eff. May 11, 1992;
Pursuant to
G.S.
150B-21.3A, rule is necessary without
substantive public interest Eff. November 22,
2018.