GENERAL ASSEMBLY OF NORTH CAROLINA
1989 SESSION

CHAPTER 20
HOUSE BILL 85

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.
In the General Assembly read three times and ratified this the 16th day of March, 1989.