State ex rel. Banking Commission v. Citicorp Savings Industrial Bank

WEBB, Judge.

G.S. 53-229 which became effective on 7 July 1984 while this case was on appeal to this Court provides in part:

Notwithstanding any other provision of this Article or any other provision of the General Statutes of this State, no bank holding company or any other company may acquire or control any banking institution that:(1) Has offices located in this State; and(2) Is not a bank as defined in G.S. 53-226(1) of this Article.

Provided, the provisions of G.S. 53-229 shall not apply to applications by any company which is chartered by the Congress of the United States and which…