GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1989

H	1 

HOUSE BILL 85

Short Title:  Allow Comm. on Initial Bank Stock.   	(Public)
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Sponsors: Representatives Diamont; Fletcher, Warren, Easterling, and Kerr.
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Referred to:  Commerce.
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January 25, 1989

A BILL TO BE ENTITLED
AN ACT TO ALLOW SALES COMMISSIONS ON INITIAL BANK STOCK OFFERINGS.
The General Assembly of North Carolina enacts:
Section 1.  G.S.53-6 reads as rewritten:
"§ 53-6. Payment of capital stock.
The capital stock of every bank shall be fully paid in, in cash, before it shall be authorized by the Commissioner of Banks to commence business and the full payment in cash of the capital stock shall be certified to the Commissioner of Banks under oath by the president, cashier, or secretary of the said bank. "
Sec.2.  This act is effective upon ratification.