Citicorp v. Currie

WEBB, Judge.

The appellants first contend the Commissioner’s decision should be reversed because the statute he relied upon, G.S. 53-229, violates Article I, section 8 of the Constitution of the United States and Article I, sections 19, 32, and 34 of the Constitution of North Carolina. These issues have been resolved in the recent decision of State ex rel. Banking Commission v. Citicorp Savings Industrial Bank of North Carolina (Proposed), 74 N.C. App. 474, 328 S.E. 2d 895 (1985). That decision held that G.S. 53-229 required the dismissal of Citicorp’s application to form an industrial bank in…